Organon & Co. (NYSE:OGN) Stock Price Down 3.8% – Here’s Why

Organon & Co. (NYSE:OGN)’s share price fell 3.8% during trading on Monday . The company traded as low as $14.65 and last traded at $14.72. 1,048,407 shares were traded during trading, a decline of 54% from the average session volume of 2,296,159 shares. The stock had previously closed at $15.30.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OGN. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lowered shares of Organon & Co. from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $18.00 to $20.00 in a research note on Friday, September 6th.

Organon & Co. Price Performance

The company has a 50 day moving average of $16.46 and a 200 day moving average of $19.17. 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 firm has a market cap of $3.77 billion, a price-to-earnings ratio of 2.91, a P/E/G ratio of 0.81 and a beta of 0.75.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.03). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the company earned $0.78 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. Equities research analysts predict that Organon & Co. will post 3.89 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 7.65%. Organon & Co.’s dividend payout ratio (DPR) is currently 22.22%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Public Sector Pension Investment Board lifted its position in Organon & Co. by 8.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 565,866 shares of the company’s stock valued at $11,713,000 after acquiring an additional 41,954 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of Organon & Co. in the third quarter valued at about $32,966,000. Cerity Partners LLC lifted its holdings in shares of Organon & Co. by 94.0% in the third quarter. Cerity Partners LLC now owns 667,340 shares of the company’s stock valued at $12,766,000 after purchasing an additional 323,308 shares in the last quarter. Beddow Capital Management Inc. boosted its position in shares of Organon & Co. by 38.8% during the third quarter. Beddow Capital Management Inc. now owns 306,675 shares of the company’s stock worth $5,867,000 after buying an additional 85,775 shares during the period. Finally, Foundry Partners LLC bought a new position in shares of Organon & Co. during the third quarter worth about $7,642,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

About Organon & Co.

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.