543,711 Shares in Organon & Co. $OGN Purchased by Sector Gamma AS

Sector Gamma AS bought a new stake in Organon & Co. (NYSE:OGN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 543,711 shares of the company’s stock, valued at approximately $5,807,000. Organon & Co. comprises about 1.4% of Sector Gamma AS’s holdings, making the stock its 27th biggest position. Sector Gamma AS owned 0.21% of Organon & Co. at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in OGN. Norges Bank bought a new stake in shares of Organon & Co. in the second quarter valued at approximately $19,778,000. AQR Capital Management LLC raised its stake in Organon & Co. by 136.1% during the 2nd quarter. AQR Capital Management LLC now owns 3,254,884 shares of the company’s stock valued at $31,507,000 after purchasing an additional 1,876,264 shares during the last quarter. Private Management Group Inc. boosted its holdings in Organon & Co. by 46.4% in the 2nd quarter. Private Management Group Inc. now owns 3,135,960 shares of the company’s stock valued at $30,356,000 after purchasing an additional 993,950 shares during the period. Brandywine Global Investment Management LLC boosted its holdings in Organon & Co. by 58.7% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 2,262,626 shares of the company’s stock valued at $21,902,000 after purchasing an additional 837,201 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Organon & Co. by 126.4% in 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 last quarter. 77.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on OGN shares. JPMorgan Chase & Co. dropped their price objective on shares of Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, November 11th. Wall Street Zen upgraded Organon & Co. from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Barclays initiated coverage on Organon & Co. in a report on Tuesday, December 9th. They issued an “underweight” rating and a $7.50 price target for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Organon & Co. in a report on Wednesday, October 8th. Finally, Morgan Stanley cut their target price on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Organon & Co. currently has an average rating of “Reduce” and an average price target of $8.38.

Organon & Co. Stock Up 0.4%

Shares of OGN opened at $9.78 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.75 and a debt-to-equity ratio of 9.69. The company has a 50-day moving average price of $7.67 and a two-hundred day moving average price of $8.76. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 5.09, a P/E/G ratio of 2.02 and a beta of 0.58. Organon & Co. has a 12 month low of $6.18 and a 12 month high of $17.23.

Organon & Co. (NYSE:OGN) last issued its earnings results on Monday, November 10th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a return on equity of 143.47% and a net margin of 7.95%.During the same period in the prior year, the firm posted $1.38 EPS. Equities analysts predict 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 was paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.8%. Organon & Co.’s dividend payout ratio (DPR) is presently 4.17%.

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.