Fifth Third Bancorp Has $412,000 Holdings in Organon & Co. $OGN

Fifth Third Bancorp increased its position in shares of Organon & Co. (NYSE:OGN) by 2,066.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,821 shares of the company’s stock after buying an additional 65,645 shares during the period. Fifth Third Bancorp’s holdings in Organon & Co. were worth $412,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of OGN. Royal Bank of Canada raised its position in shares of 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. lifted its stake in shares of Organon & Co. by 126.4% in the 1st 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of 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 boosted its position in shares of 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, XTX Topco Ltd acquired a new stake in Organon & Co. during the second quarter worth approximately $107,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Insider Activity at Organon & Co.

In other news, SVP Lynette Holzbaur bought 26,448 shares of the stock in a transaction dated Wednesday, May 6th. The stock was bought at an average price of $13.35 per share, for a total transaction of $353,080.80. Following the completion of the acquisition, the senior vice president directly owned 52,851 shares in the company, valued at approximately $705,560.85. This trade represents a 100.17% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.62% of the stock is currently owned by corporate insiders.

Organon & Co. Trading Up 0.0%

NYSE OGN opened at $13.54 on Friday. The firm has a market capitalization of $3.56 billion, a P/E ratio of 14.56, a PEG ratio of 1.25 and a beta of 1.54. The business has a fifty day simple moving average of $13.47 and a 200 day simple moving average of $10.38. Organon & Co. has a 12 month low of $5.69 and a 12 month high of $13.60. The company has a current ratio of 1.97, a quick ratio of 1.42 and a debt-to-equity ratio of 9.47.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.12). The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Organon & Co. had a return on equity of 99.95% and a net margin of 3.99%.Organon & Co.’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 earnings per share. On average, analysts predict that Organon & Co. will post 3.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Zacks Research upgraded Organon & Co. from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Weiss Ratings upgraded Organon & Co. from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. BNP Paribas Exane reaffirmed a “neutral” rating and set a $14.00 price objective (up from $12.00) on shares of Organon & Co. in a research report on Wednesday, April 29th. Finally, Piper Sandler upgraded shares of Organon & Co. from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $5.00 to $14.00 in a research note on Tuesday, April 28th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $11.40.

Organon & Co. 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.