Cibc World Markets Corp Makes New $835,000 Investment in Organon & Co. (NYSE:OGN)

Cibc World Markets Corp purchased a new position in shares of Organon & Co. (NYSE:OGN – Get Rating) during the 4th quarter, Holdings Channel.com reports. The fund purchased 29,905 shares of the company’s stock, valued at approximately $835,000.

Several other institutional investors have also recently made changes to their positions in OGN. Twin Tree Management LP bought a new position in shares of Organon & Co. during the 3rd quarter worth approximately $76,000. Barclays PLC boosted its stake in shares of Organon & Co. by 20.7% during the 3rd quarter. Barclays PLC now owns 170,870 shares of the company’s stock worth $3,997,000 after acquiring an additional 29,261 shares during the period. Douglas Lane & Associates LLC boosted its stake in shares of Organon & Co. by 102.6% during the 4th quarter. Douglas Lane & Associates LLC now owns 467,325 shares of the company’s stock worth $13,052,000 after acquiring an additional 236,693 shares during the period. Jump Financial LLC boosted its stake in shares of Organon & Co. by 42.2% during the 3rd quarter. Jump Financial LLC now owns 19,203 shares of the company’s stock worth $449,000 after acquiring an additional 5,701 shares during the period. Finally, Kendall Capital Management boosted its stake in shares of Organon & Co. by 11.0% during the 4th quarter. Kendall Capital Management now owns 18,522 shares of the company’s stock worth $517,000 after acquiring an additional 1,840 shares during the period. Institutional investors and hedge funds own 75.74% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James began coverage on Organon & Co. in a research note on Wednesday, March 15th. They set an “outperform” rating and a $33.00 target price for the company.

Organon & Co. Price Performance

OGN opened at $20.43 on Monday. The business has a fifty day simple moving average of $22.72 and a 200 day simple moving average of $25.72. The company has a market capitalization of $5.21 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 0.88 and a beta of 0.77. Organon & Co. has a 1 year low of $20.12 and a 1 year high of $39.09.

Organon & Co. (NYSE:OGN – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.10). The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. Organon & Co. had a net margin of 12.14% and a negative return on equity of 119.00%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.65 earnings per share. Equities analysts anticipate that Organon & Co. will post 4.22 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Monday, May 15th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, May 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.48%. Organon & Co.’s payout ratio is 38.36%.

Organon & Co. Company Profile

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Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.