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

Organon & Co. (NYSE:OGN)’s stock price 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 given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 7.32%. The ex-dividend date of this dividend is Monday, February 24th. Organon & Co.’s dividend payout ratio is currently 22.22%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Barclays decreased their target price on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday. TD Cowen upgraded Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley reduced their price target on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Organon & Co. presently has an average rating of “Hold” and a consensus target price of $20.80.

Organon & Co. Stock Performance

The company has a market capitalization of $3.94 billion, a PE ratio of 3.03, a PEG ratio of 0.83 and a beta of 0.76. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The company has a 50-day moving average price of $15.35 and a two-hundred day moving average price of $17.48.

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

Institutional Investors Weigh In On Organon & Co.

Several large investors have recently added to or reduced their stakes in the business. Talon Private Wealth LLC bought a new stake in Organon & Co. during the fourth quarter valued at $575,000. Schonfeld Strategic Advisors LLC boosted its stake in Organon & Co. by 195.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 63,669 shares of the company’s stock valued at $950,000 after buying an additional 42,103 shares during the period. Northern Trust Corp boosted its stake in Organon & Co. by 17.9% during the fourth quarter. Northern Trust Corp now owns 1,914,115 shares of the company’s stock valued at $28,559,000 after buying an additional 290,134 shares during the period. Aquatic Capital Management LLC bought a new stake in Organon & Co. during the fourth quarter valued at $327,000. Finally, Oxford Asset Management LLP bought a new stake in Organon & Co. during the fourth quarter worth about $419,000. Institutional investors own 77.43% of the company’s stock.

About Organon & Co.

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.