Russell Investments Group Ltd. Has $30.73 Million Stock Holdings in Organon & Co. (NYSE:OGN)

Russell Investments Group Ltd. boosted its position in Organon & Co. (NYSE:OGN) by 20.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,634,478 shares of the company’s stock after purchasing an additional 278,146 shares during the period. Russell Investments Group Ltd. owned about 0.64% of Organon & Co. worth $30,727,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Lindbrook Capital LLC lifted its holdings in shares of Organon & Co. by 348.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock worth $27,000 after purchasing an additional 1,428 shares during the period. Gladius Capital Management LP increased its stake in Organon & Co. by 65.1% in the fourth quarter. Gladius Capital Management LP now owns 2,176 shares of the company’s stock valued at $31,000 after purchasing an additional 858 shares in the last quarter. GAMMA Investing LLC bought a new stake in Organon & Co. in the fourth quarter valued at $38,000. Eagle Bay Advisors LLC increased its position in shares of Organon & Co. by 100.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,800 shares of the company’s stock worth $40,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Organon & Co. during the first quarter worth about $43,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OGN. The Goldman Sachs Group upped their target price on shares of Organon & Co. from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Piper Sandler raised their price objective on shares of Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, April 29th.

Organon & Co. Stock Performance

Shares of Organon & Co. stock traded up $0.08 during midday trading on Tuesday, hitting $20.81. The company had a trading volume of 1,361,767 shares, compared to its average volume of 2,322,629. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 5.08, a PEG ratio of 0.98 and a beta of 0.85. The company has a quick ratio of 1.15, a current ratio of 1.65 and a debt-to-equity ratio of 181.35. The company has a fifty day simple moving average of $20.79 and a 200 day simple moving average of $18.64. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $24.08.

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

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Monday, May 13th were issued a $0.28 dividend. The ex-dividend date was Friday, May 10th. This represents a $1.12 annualized dividend and a yield of 5.38%. Organon & Co.’s dividend payout ratio (DPR) is currently 27.38%.

Organon & Co. Profile

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.