Organon & Co. (NYSE:OGN) Shares Up 10.9% – Should You Buy?

Organon & Co. (NYSE:OGN)’s stock price was up 10.9% during mid-day trading on Monday . The stock traded as high as $7.60 and last traded at $7.5190. Approximately 5,765,843 shares traded hands during mid-day trading, an increase of 24% from the average daily volume of 4,651,940 shares. The stock had previously closed at $6.78.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OGN. Weiss Ratings reiterated a “sell (d+)” rating on shares of Organon & Co. in a research report on Wednesday, October 8th. Piper Sandler cut shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Organon & Co. currently has an average rating of “Hold” and an average target price of $13.00.

Organon & Co. Stock Performance

The stock has a 50-day simple moving average of $9.40 and a 200-day simple moving average of $9.55. The company has a debt-to-equity ratio of 11.98, a current ratio of 1.65 and a quick ratio of 1.13. The stock has a market cap of $2.01 billion, a PE ratio of 2.87, a P/E/G ratio of 0.61 and a beta of 0.59.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Hanson & Doremus Investment Management purchased a new position in Organon & Co. in the 2nd quarter worth approximately $26,000. Hantz Financial Services Inc. boosted its stake in shares of Organon & Co. by 293.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,674 shares of the company’s stock valued at $26,000 after buying an additional 1,995 shares during the last quarter. Ransom Advisory Ltd bought a new position in shares of Organon & Co. during the first quarter worth about $32,000. SouthState Corp increased its holdings in shares of Organon & Co. by 1,857.0% in the 2nd quarter. SouthState Corp now owns 3,914 shares of the company’s stock valued at $38,000 after acquiring an additional 3,714 shares during the last quarter. Finally, Rothschild Investment LLC raised its holdings in shares of Organon & Co. by 73.1% during the third quarter. Rothschild Investment LLC now owns 3,899 shares of the company’s stock worth $42,000 after purchasing an additional 1,646 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Company Profile

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.