SP Asset Management Grows Stock Position in Organon & Co. (NYSE:OGN)

SP Asset Management boosted its stake in Organon & Co. (NYSE:OGNGet Rating) by 0.8% in the first quarter, Holdings Channel reports. The fund owned 171,278 shares of the company’s stock after buying an additional 1,436 shares during the quarter. SP Asset Management’s holdings in Organon & Co. were worth $5,983,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OGN. Radnor Capital Management LLC raised its position in shares of Organon & Co. by 0.5% in the 1st quarter. Radnor Capital Management LLC now owns 61,566 shares of the company’s stock valued at $2,151,000 after purchasing an additional 314 shares in the last quarter. Roberts Glore & Co. Inc. IL raised its position in shares of Organon & Co. by 1.1% in the 1st quarter. Roberts Glore & Co. Inc. IL now owns 29,118 shares of the company’s stock valued at $1,017,000 after purchasing an additional 327 shares in the last quarter. FourThought Financial LLC raised its position in shares of Organon & Co. by 31.7% in the 1st quarter. FourThought Financial LLC now owns 1,442 shares of the company’s stock valued at $50,000 after purchasing an additional 347 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of Organon & Co. by 1.1% in the 1st quarter. Mutual of America Capital Management LLC now owns 33,808 shares of the company’s stock valued at $1,181,000 after purchasing an additional 361 shares in the last quarter. Finally, SouthState Corp raised its position in shares of Organon & Co. by 85.6% in the 1st quarter. SouthState Corp now owns 891 shares of the company’s stock valued at $31,000 after purchasing an additional 411 shares in the last quarter. Hedge funds and other institutional investors own 70.85% of the company’s stock.

Organon & Co. Price Performance

Shares of OGN stock traded down $0.91 on Friday, hitting $31.50. 2,755,356 shares of the stock traded hands, compared to its average volume of 1,458,238. Organon & Co. has a 1-year low of $28.50 and a 1-year high of $39.47. The company’s fifty day moving average is $33.88 and its 200 day moving average is $34.45. The company has a market capitalization of $7.99 billion, a PE ratio of 7.26 and a beta of 0.47.

Organon & Co. (NYSE:OGNGet Rating) last issued its earnings results on Thursday, May 5th. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.34. Organon & Co. had a negative return on equity of 103.66% and a net margin of 17.42%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period last year, the company earned $1.56 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts expect that Organon & Co. will post 5.09 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Friday, August 12th. Organon & Co.’s dividend payout ratio is presently 25.81%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Morgan Stanley dropped their price target on Organon & Co. from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, July 8th. Bank of America lowered Organon & Co. from a “buy” rating to a “neutral” rating and dropped their price target for the company from $40.00 to $37.00 in a research report on Friday. Finally, The Goldman Sachs Group assumed coverage on Organon & Co. in a research report on Wednesday, April 27th. They set a “buy” rating and a $40.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Organon & Co. has a consensus rating of “Hold” and a consensus target price of $37.80.

Organon & Co. Profile

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Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.

See Also

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Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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