Organon & Co. (NYSE:OGN) Sees Unusually-High Trading Volume – Here’s Why

Organon & Co. (NYSE:OGN) shares saw an uptick in trading volume on Tuesday . 3,247,765 shares were traded during mid-day trading, an increase of 48% from the previous session’s volume of 2,197,288 shares.The stock last traded at $16.06 and had previously closed at $16.92.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. downgraded shares of Organon & Co. from a “neutral” rating to an “underweight” rating and upped their price target for the company from $18.00 to $20.00 in a report on Friday, September 6th.

Organon & Co. Price Performance

The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17. The firm has a market capitalization of $4.24 billion, a PE ratio of 3.27, a P/E/G ratio of 0.81 and a beta of 0.84. The company has a 50-day moving average price of $19.26 and a 200-day moving average price of $20.12.

Organon & Co. (NYSE:OGN) last released 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 2,437.43% and a net margin of 20.30%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the business earned $0.78 earnings per share. Organon & Co.’s revenue for the quarter was up 4.1% on a year-over-year basis. Sell-side analysts forecast that Organon & Co. will post 4.04 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 6.80%. Organon & Co.’s payout ratio is currently 22.22%.

Institutional Trading of Organon & Co.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LSV Asset Management grew its stake in shares of Organon & Co. by 47.3% during the 2nd quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock valued at $136,843,000 after buying an additional 2,121,940 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of Organon & Co. in the 2nd quarter valued at about $33,573,000. Kahn Brothers Group Inc. increased its position in Organon & Co. by 3,242.4% during the 1st quarter. Kahn Brothers Group Inc. now owns 1,180,204 shares of the company’s stock worth $22,188,000 after purchasing an additional 1,144,894 shares in the last quarter. Boston Partners purchased a new position in Organon & Co. in the first quarter valued at approximately $19,306,000. Finally, AQR Capital Management LLC lifted its position in Organon & Co. by 39.8% during the second quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock valued at $71,905,000 after buying an additional 988,336 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Company Profile

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.