Traders Purchase High Volume of Organon & Co. Put Options (NYSE:OGN)

Organon & Co. (NYSE:OGN) was the target of unusually large options trading activity on Thursday. Traders purchased 6,303 put options on the stock. This represents an increase of 254% compared to the typical daily volume of 1,782 put options.

Analyst Ratings Changes

OGN has been the subject of a number of recent analyst reports. Barclays reduced their price target on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. TD Cowen upgraded Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley decreased their target price on Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Organon & Co. has an average rating of “Hold” and an average target price of $20.60.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Gilman Hill Asset Management LLC boosted its stake in shares of Organon & Co. by 2.9% in the 1st quarter. Gilman Hill Asset Management LLC now owns 646,912 shares of the company’s stock valued at $9,633,000 after purchasing an additional 18,249 shares in the last quarter. RFG Advisory LLC purchased a new position in Organon & Co. in the 1st quarter worth $362,000. Merit Financial Group LLC bought a new stake in Organon & Co. in the first quarter worth $205,000. Quad Cities Investment Group LLC boosted its position in Organon & Co. by 31.2% during the first quarter. Quad Cities Investment Group LLC now owns 19,954 shares of the company’s stock valued at $297,000 after buying an additional 4,743 shares during the period. Finally, NBC Securities Inc. grew its stake in shares of Organon & Co. by 111,262.5% during the first quarter. NBC Securities Inc. now owns 8,909 shares of the company’s stock valued at $132,000 after buying an additional 8,901 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Stock Performance

NYSE OGN opened at $11.17 on Friday. Organon & Co. has a 52-week low of $10.94 and a 52-week high of $23.10. The company has a fifty day moving average of $14.64 and a 200-day moving average of $15.67. The company has a market capitalization of $2.88 billion, a P/E ratio of 3.35, a P/E/G ratio of 0.90 and a beta of 0.73. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70.

Organon & Co. (NYSE:OGN) last issued 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 431.62% and a net margin of 13.49%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. As a group, equities research analysts predict that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 10.03%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s dividend payout ratio is currently 33.63%.

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.