Short Interest in Organon & Co. (NYSE:OGN) Expands By 28.2%

Organon & Co. (NYSE:OGN) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 12,530,000 shares, an increase of 28.2% from the September 30th total of 9,770,000 shares. Based on an average daily volume of 1,920,000 shares, the days-to-cover ratio is presently 6.5 days. Approximately 4.9% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Organon & Co. Stock Up 0.4 %

Shares of NYSE:OGN traded up $0.08 during midday trading on Wednesday, reaching $17.93. The company had a trading volume of 3,342,715 shares, compared to its average volume of 2,170,740. The stock’s fifty day moving average price is $19.57 and its 200-day moving average price is $20.12. Organon & Co. has a one year low of $10.84 and a one year high of $23.10. The stock has a market capitalization of $4.62 billion, a P/E ratio of 4.62, a PEG ratio of 0.77 and a beta of 0.84. The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17.

Organon & Co. (NYSE:OGN) last issued its earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the company posted $1.31 earnings per share. Organon & Co.’s revenue was down .1% on a year-over-year basis. Equities research analysts expect that Organon & Co. will post 4.04 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date of this dividend was Friday, August 16th. Organon & Co.’s dividend payout ratio is currently 28.79%.

Institutional Trading of Organon & Co.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in Organon & Co. by 32.2% in the 3rd quarter. Van ECK Associates Corp now owns 276,732 shares of the company’s stock valued at $5,294,000 after acquiring an additional 67,451 shares during the last quarter. Private Management Group Inc. raised its holdings in Organon & Co. by 1.8% during the 3rd quarter. Private Management Group Inc. now owns 1,893,868 shares of the company’s stock worth $36,230,000 after buying an additional 34,026 shares during the period. Sippican Capital Advisors grew its position in Organon & Co. by 4.3% during the 3rd quarter. Sippican Capital Advisors now owns 15,230 shares of the company’s stock worth $291,000 after purchasing an additional 627 shares in the last quarter. Measured Wealth Private Client Group LLC grew its stake in shares of Organon & Co. by 36.4% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 21,137 shares of the company’s stock valued at $404,000 after buying an additional 5,643 shares in the last quarter. Finally, Abich Financial Wealth Management LLC increased its position in Organon & Co. by 5,646.3% during the third quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock worth $45,000 after buying an additional 2,315 shares during the last quarter. Institutional investors 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.