Bryce Point Capital LLC Purchases Shares of 48,068 Organon & Co. $OGN

Bryce Point Capital LLC acquired a new stake in Organon & Co. (NYSE:OGN) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 48,068 shares of the company’s stock, valued at approximately $465,000.

A number of other hedge funds have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Organon & Co. by 870.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,010,789 shares of the company’s stock worth $15,051,000 after acquiring an additional 906,675 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Organon & Co. by 8.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,715,445 shares of the company’s stock worth $159,553,000 after purchasing an additional 820,378 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Organon & Co. by 126.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,435,198 shares of the company’s stock valued at $21,370,000 after purchasing an additional 801,307 shares in the last quarter. Gotham Asset Management LLC lifted its holdings in shares of Organon & Co. by 74.3% in the first quarter. Gotham Asset Management LLC now owns 1,400,250 shares of the company’s stock valued at $20,850,000 after purchasing an additional 596,936 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of Organon & Co. during the first quarter valued at approximately $8,773,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Stock Down 2.6%

OGN opened at $6.54 on Wednesday. The company has a market cap of $1.70 billion, a PE ratio of 2.43, a price-to-earnings-growth ratio of 0.61 and a beta of 0.59. Organon & Co. has a 12 month low of $6.18 and a 12 month high of $17.23. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 11.98. The company has a 50 day moving average of $9.56 and a 200 day moving average of $9.64.

Organon & Co. (NYSE:OGN) last posted its earnings results on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.55 billion. Organon & Co. had a net margin of 11.15% and a return on equity of 163.88%. Organon & Co.’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.12 EPS. On average, sell-side analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Organon & Co. in a research note on Wednesday, October 8th. Piper Sandler lowered shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Organon & Co. has a consensus rating of “Hold” and a consensus price target of $13.00.

Organon & Co. Profile

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.