Gotham Asset Management LLC Has $39.66 Million Stock Position in Organon & Co. $OGN

Gotham Asset Management LLC grew its stake in Organon & Co. (NYSE:OGN) by 37.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,713,204 shares of the company’s stock after purchasing an additional 1,007,691 shares during the period. Gotham Asset Management LLC’s holdings in Organon & Co. were worth $39,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Organon & Co. by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 35,928,403 shares of the company’s stock worth $383,715,000 after buying an additional 3,650,860 shares during the period. Norges Bank bought a new stake in Organon & Co. in the second quarter valued at $19,778,000. AQR Capital Management LLC raised its stake in Organon & Co. by 136.1% during the second quarter. AQR Capital Management LLC now owns 3,254,884 shares of the company’s stock worth $31,507,000 after acquiring an additional 1,876,264 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Organon & Co. by 102.1% during the third quarter. Balyasny Asset Management L.P. now owns 2,240,149 shares of the company’s stock worth $23,925,000 after acquiring an additional 1,131,941 shares in the last quarter. Finally, Private Management Group Inc. lifted its holdings in shares of Organon & Co. by 46.4% during the second quarter. Private Management Group Inc. now owns 3,135,960 shares of the company’s stock valued at $30,356,000 after acquiring an additional 993,950 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OGN has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Organon & Co. from $7.50 to $8.00 and gave the company an “underweight” rating in a research note on Tuesday, February 24th. Wall Street Zen cut shares of Organon & Co. from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Zacks Research lowered shares of Organon & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $8.50.

Organon & Co. Trading Up 0.4%

Shares of NYSE OGN opened at $6.36 on Monday. Organon & Co. has a 1-year low of $6.18 and a 1-year high of $15.88. The company has a 50-day moving average of $7.89 and a two-hundred day moving average of $8.27. The company has a market cap of $1.65 billion, a PE ratio of 8.95, a P/E/G ratio of 0.59 and a beta of 0.61. The company has a current ratio of 1.82, a quick ratio of 1.23 and a debt-to-equity ratio of 11.47.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.10). The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.52 billion. Organon & Co. had a net margin of 3.01% and a return on equity of 122.01%. Organon & Co.’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. As a group, equities analysts expect that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Monday, February 23rd were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $0.08 annualized dividend and a yield of 1.3%. Organon & Co.’s dividend payout ratio is currently 11.27%.

About Organon & Co.

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.