Gotham Asset Management LLC Buys 1,007,691 Shares of Organon & Co. $OGN

Gotham Asset Management LLC grew its stake in Organon & Co. (NYSE:OGN) by 37.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,713,204 shares of the company’s stock after buying an additional 1,007,691 shares during the period. Gotham Asset Management LLC owned approximately 1.43% of Organon & Co. worth $39,657,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in OGN. GAMMA Investing LLC raised its stake in shares of Organon & Co. by 22.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,910 shares of the company’s stock valued at $74,000 after acquiring an additional 1,265 shares in the last quarter. Rexford Capital Inc. boosted its position in Organon & Co. by 14.9% during the third quarter. Rexford Capital Inc. now owns 11,380 shares of the company’s stock worth $122,000 after purchasing an additional 1,480 shares during the period. Amalgamated Bank boosted its position in Organon & Co. by 1.9% during the third quarter. Amalgamated Bank now owns 79,805 shares of the company’s stock worth $852,000 after purchasing an additional 1,514 shares during the period. Arizona State Retirement System grew its holdings in Organon & Co. by 2.2% during the third quarter. Arizona State Retirement System now owns 76,924 shares of the company’s stock valued at $822,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Rothschild Investment LLC grew its holdings in Organon & Co. by 73.1% during the third quarter. Rothschild Investment LLC now owns 3,899 shares of the company’s stock valued at $42,000 after purchasing an additional 1,646 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Up 0.4%

Shares of OGN stock opened at $6.36 on Monday. The stock has a market cap of $1.65 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 0.59 and a beta of 0.61. Organon & Co. has a one year low of $6.18 and a one year high of $15.88. The stock has a fifty day moving average price of $7.89 and a 200 day moving average price of $8.27. The company has a debt-to-equity ratio of 11.47, a current ratio of 1.82 and a quick ratio of 1.23.

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

Organon & Co. Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OGN. Wall Street Zen cut shares of Organon & Co. from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Barclays raised 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. Finally, Zacks Research downgraded shares of Organon & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $8.50.

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.