Organon & Co. (NYSE:OGN) Shares Gap Up After Dividend Announcement

Shares of Organon & Co. (NYSE:OGN) gapped up prior to trading on Thursday following a dividend announcement from the company. The stock had previously closed at $14.70, but opened at $15.74. Organon & Co. shares last traded at $16.45, with a volume of 1,169,714 shares.

The newly announced dividend which will be paid on Thursday, March 13th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 7.32%. The ex-dividend date is Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is currently 22.22%.

Analyst Ratings Changes

OGN has been the subject of several research analyst reports. TD Cowen raised Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Morgan Stanley decreased their price objective on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Barclays decreased their price objective on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Organon & Co. currently has a consensus rating of “Hold” and a consensus target price of $20.80.

Organon & Co. Stock Performance

The company has a market cap of $3.94 billion, a PE ratio of 3.03, a P/E/G ratio of 0.83 and a beta of 0.76. 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 business has a fifty day moving average of $15.35 and a 200-day moving average of $17.48.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.09). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. Equities research analysts anticipate that Organon & Co. will post 3.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OGN. SG Americas Securities LLC increased its holdings in Organon & Co. by 161.1% during the 3rd quarter. SG Americas Securities LLC now owns 22,689 shares of the company’s stock valued at $434,000 after purchasing an additional 14,000 shares during the period. SeaCrest Wealth Management LLC grew its holdings in shares of Organon & Co. by 32.7% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 16,218 shares of the company’s stock worth $310,000 after acquiring an additional 3,999 shares during the period. nVerses Capital LLC purchased a new position in shares of Organon & Co. during the 3rd quarter worth approximately $260,000. Trust Co. of Vermont grew its holdings in shares of Organon & Co. by 109.4% during the 3rd quarter. Trust Co. of Vermont now owns 2,626 shares of the company’s stock worth $50,000 after acquiring an additional 1,372 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Organon & Co. by 217.5% during the 3rd quarter. Blue Trust Inc. now owns 3,661 shares of the company’s stock worth $76,000 after acquiring an additional 2,508 shares during the period. 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.