Wedmont Private Capital Buys New Shares in Organon & Co. (NYSE:OGN)

Wedmont Private Capital purchased a new stake in Organon & Co. (NYSE:OGN) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,628 shares of the company’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fruth Investment Management grew its holdings in shares of Organon & Co. by 1.9% in the 4th quarter. Fruth Investment Management now owns 37,040 shares of the company’s stock worth $534,000 after acquiring an additional 700 shares during the last quarter. GAMMA Investing LLC raised its holdings in Organon & Co. by 29.5% during the 1st quarter. GAMMA Investing LLC now owns 3,387 shares of the company’s stock worth $64,000 after buying an additional 772 shares during the period. Gladius Capital Management LP lifted its stake in Organon & Co. by 65.1% during the fourth quarter. Gladius Capital Management LP now owns 2,176 shares of the company’s stock valued at $31,000 after buying an additional 858 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in shares of Organon & Co. by 7.6% in the fourth quarter. Raymond James Trust N.A. now owns 13,868 shares of the company’s stock worth $200,000 after buying an additional 983 shares during the period. Finally, CWM LLC increased its position in shares of Organon & Co. by 8.3% in the fourth quarter. CWM LLC now owns 14,217 shares of the company’s stock worth $205,000 after acquiring an additional 1,087 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OGN shares. The Goldman Sachs Group upped their price target on shares of Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Piper Sandler lifted their price target on Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, April 29th.

Organon & Co. Price Performance

OGN opened at $20.84 on Monday. The stock has a fifty day moving average price of $20.17 and a 200 day moving average price of $17.80. The company has a current ratio of 1.65, a quick ratio of 1.15 and a debt-to-equity ratio of 181.35. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $24.08. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 5.10, a PEG ratio of 0.89 and a beta of 0.87.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.31. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a net margin of 16.50% and a negative return on equity of 360.57%. Analysts forecast that Organon & Co. will post 4.3 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Monday, May 13th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend was Friday, May 10th. Organon & Co.’s payout ratio is 27.38%.

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.