Organon & Co. (NYSE:OGN) Shares Bought by Wedmont Private Capital

Wedmont Private Capital lifted its holdings in Organon & Co. (NYSE:OGN) by 66.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,382 shares of the company’s stock after purchasing an additional 7,754 shares during the period. Wedmont Private Capital’s holdings in Organon & Co. were worth $413,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of OGN. Versant Capital Management Inc grew its stake in Organon & Co. by 200.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock valued at $25,000 after buying an additional 805 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Organon & Co. by 348.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock valued at $27,000 after purchasing an additional 1,428 shares during the last quarter. Gladius Capital Management LP raised its stake in shares of Organon & Co. by 65.1% during the fourth quarter. Gladius Capital Management LP now owns 2,176 shares of the company’s stock worth $31,000 after buying an additional 858 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Organon & Co. during the first quarter worth about $43,000. Finally, Tompkins Financial Corp grew its stake in Organon & Co. by 450.7% in the first quarter. Tompkins Financial Corp now owns 2,412 shares of the company’s stock valued at $45,000 after acquiring an additional 1,974 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. The Goldman Sachs Group upped their target price on shares of Organon & Co. from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd.

Organon & Co. Price Performance

Organon & Co. stock traded up $0.82 during mid-day trading on Tuesday, hitting $20.28. 924,631 shares of the company were exchanged, compared to its average volume of 2,276,056. The company has a market capitalization of $5.22 billion, a P/E ratio of 4.76, a PEG ratio of 1.01 and a beta of 0.85. The company has a debt-to-equity ratio of 181.35, a current ratio of 1.65 and a quick ratio of 1.15. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $23.37. The business’s 50 day simple moving average is $20.70 and its two-hundred day simple moving average is $19.37.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. Organon & Co. had a net margin of 16.50% and a negative return on equity of 360.57%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 earnings per share. Analysts forecast that Organon & Co. will post 4.25 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Friday, August 16th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 5.52%. The ex-dividend date is Friday, August 16th. Organon & Co.’s payout ratio is presently 27.38%.

Organon & Co. Company Profile

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.