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

Organon & Co. (NYSE:OGN) gapped up before the market opened on Thursday after the company announced a dividend. 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. Stockholders 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 dividend yield of 7.32%. The ex-dividend date of this dividend is Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is presently 22.22%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OGN. Barclays dropped their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday. TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Finally, Morgan Stanley reduced their target price on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Organon & Co. has a consensus rating of “Hold” and a consensus target price of $20.80.

Organon & Co. Price Performance

The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 3.03, a PEG ratio of 0.83 and a beta of 0.76. The company’s 50 day simple moving average is $15.35 and its 200-day simple moving average is $17.48. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results 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 return on equity of 644.70% and a net margin of 20.30%. On average, equities research analysts predict that Organon & Co. will post 3.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Organon & Co.

Hedge funds have recently modified their holdings of the company. Barclays PLC boosted its stake in shares of Organon & Co. by 238.0% during the 3rd quarter. Barclays PLC now owns 119,483 shares of the company’s stock worth $2,285,000 after purchasing an additional 84,136 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of Organon & Co. in the third quarter worth approximately $32,966,000. Cerity Partners LLC boosted its position 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 worth $12,766,000 after acquiring an additional 323,308 shares during the last quarter. Foundry Partners LLC acquired a new stake in shares of Organon & Co. in the third quarter worth approximately $7,642,000. Finally, Beddow Capital Management Inc. boosted its position in shares of Organon & Co. by 38.8% in the third quarter. Beddow Capital Management Inc. now owns 306,675 shares of the company’s stock worth $5,867,000 after acquiring an additional 85,775 shares during the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

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.