Organon & Co. Sees Unusually Large Options Volume (NYSE:OGN)

Organon & Co. (NYSE:OGN) was the recipient of some unusual options trading on Thursday. Investors acquired 6,303 put options on the stock. This represents an increase of approximately 254% compared to the average daily volume of 1,782 put options.

Organon & Co. Stock Down 2.3 %

Shares of Organon & Co. stock opened at $11.17 on Friday. The company’s fifty day simple moving average is $14.64 and its two-hundred day simple moving average is $15.67. Organon & Co. has a 12-month low of $10.94 and a 12-month high of $23.10. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The company has a market cap of $2.88 billion, a P/E ratio of 3.35, a PEG ratio of 0.90 and a beta of 0.73.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Research analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were paid a $0.28 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.12 annualized dividend and a yield of 10.03%. Organon & Co.’s payout ratio is 33.63%.

Wall Street Analysts Forecast Growth

OGN has been the topic of several analyst reports. Morgan Stanley decreased their target price on shares of Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday. TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Finally, Barclays dropped their target price on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Organon & Co. presently has a consensus rating of “Hold” and an average price target of $20.60.

Hedge Funds Weigh In On Organon & Co.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gilman Hill Asset Management LLC grew its position in shares of Organon & Co. by 2.9% in the 1st quarter. Gilman Hill Asset Management LLC now owns 646,912 shares of the company’s stock worth $9,633,000 after buying an additional 18,249 shares during the period. RFG Advisory LLC bought a new stake in Organon & Co. during the first quarter worth about $362,000. Merit Financial Group LLC purchased a new stake in Organon & Co. in the first quarter worth about $205,000. Quad Cities Investment Group LLC increased its stake in shares of Organon & Co. by 31.2% during the first quarter. Quad Cities Investment Group LLC now owns 19,954 shares of the company’s stock valued at $297,000 after purchasing an additional 4,743 shares in the last quarter. Finally, NBC Securities Inc. lifted its holdings in shares of Organon & Co. by 111,262.5% during the first quarter. NBC Securities Inc. now owns 8,909 shares of the company’s stock valued at $132,000 after purchasing an additional 8,901 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Company Profile

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.