Readystate Asset Management LP Sells 95,256 Shares of Organon & Co. $OGN

Readystate Asset Management LP cut its stake in Organon & Co. (NYSE:OGN) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 901,709 shares of the company’s stock after selling 95,256 shares during the period. Readystate Asset Management LP owned about 0.35% of Organon & Co. worth $9,630,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in Organon & Co. by 53.4% in the 1st quarter. Royal Bank of Canada now owns 360,862 shares of the company’s stock worth $5,374,000 after acquiring an additional 125,648 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Organon & Co. by 126.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,435,198 shares of the company’s stock worth $21,370,000 after purchasing an additional 801,307 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Organon & Co. by 2.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,042,991 shares of the company’s stock valued at $15,530,000 after purchasing an additional 26,640 shares in the last quarter. Focus Partners Wealth raised its position in Organon & Co. by 33.2% during the 1st quarter. Focus Partners Wealth now owns 55,875 shares of the company’s stock valued at $832,000 after purchasing an additional 13,925 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Organon & Co. by 131.4% in the 2nd quarter. CWM LLC now owns 41,773 shares of the company’s stock worth $404,000 after buying an additional 23,720 shares during the period. Institutional investors own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on OGN shares. Wall Street Zen downgraded Organon & Co. from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Piper Sandler lowered shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price target for the company. in a report on Monday, October 27th. Barclays assumed coverage on shares of Organon & Co. in a research note on Tuesday, December 9th. They set an “underweight” rating and a $7.50 price objective on the stock. Zacks Research downgraded shares of Organon & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. Finally, Morgan Stanley lowered their target price on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Organon & Co. presently has a consensus rating of “Reduce” and an average target price of $8.38.

Organon & Co. Price Performance

NYSE OGN opened at $7.29 on Wednesday. The firm’s fifty day simple moving average is $7.90 and its two-hundred day simple moving average is $8.54. The firm has a market capitalization of $1.90 billion, a P/E ratio of 10.27, a P/E/G ratio of 1.60 and a beta of 0.58. The company has a current ratio of 1.75, a quick ratio of 1.20 and a debt-to-equity ratio of 9.69. Organon & Co. has a 12-month low of $6.18 and a 12-month high of $16.18.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.10). Organon & Co. had a return on equity of 123.06% and a net margin of 3.01%.The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the business earned $0.90 EPS. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. Analysts forecast that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Monday, February 23rd will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, February 23rd. Organon & Co.’s dividend payout ratio (DPR) is presently 11.27%.

Organon & Co. Company Profile

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.