Organon & Co. (NYSE:OGN) Shares Purchased by Sound Income Strategies LLC

Sound Income Strategies LLC raised its position in shares of Organon & Co. (NYSE:OGN) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 532,550 shares of the company’s stock after buying an additional 42,821 shares during the period. Sound Income Strategies LLC owned about 0.21% of Organon & Co. worth $10,012,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OGN. Piper Sandler upped their target price on shares of Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. The Goldman Sachs Group increased their price objective 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.

Organon & Co. Stock Down 0.8 %

OGN stock traded down $0.17 during trading on Wednesday, hitting $20.62. 869,719 shares of the company’s stock were exchanged, compared to its average volume of 2,414,808. The business has a 50-day moving average price of $20.30 and a two-hundred day moving average price of $17.93. The company has a current ratio of 1.65, a quick ratio of 1.15 and a debt-to-equity ratio of 181.35. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 5.04, a PEG ratio of 0.90 and a beta of 0.87. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $24.08.

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, topping the consensus estimate of $0.83 by $0.31. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a net margin of 16.50% and a negative return on equity of 360.57%. As a group, equities research analysts expect that Organon & Co. will post 4.3 EPS for the current year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Monday, May 13th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.43%. 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.