GAMMA Investing LLC Buys New Holdings in Organon & Co. (NYSE:OGN)

GAMMA Investing LLC purchased a new position in Organon & Co. (NYSE:OGN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,615 shares of the company’s stock, valued at approximately $38,000.

Several other hedge funds also recently made changes to their positions in OGN. Lindbrook Capital LLC increased its position in shares of Organon & Co. by 348.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock valued at $27,000 after acquiring an additional 1,428 shares during the period. Harvest Fund Management Co. Ltd increased its position in Organon & Co. by 495.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,602 shares of the company’s stock valued at $28,000 after purchasing an additional 1,333 shares during the period. Headlands Technologies LLC bought a new position in Organon & Co. in the 3rd quarter worth $35,000. EverSource Wealth Advisors LLC raised its stake in Organon & Co. by 97.7% in the third quarter. EverSource Wealth Advisors LLC now owns 2,246 shares of the company’s stock worth $39,000 after buying an additional 1,110 shares in the last quarter. Finally, Clear Street Markets LLC boosted its position in Organon & Co. by 588.9% during the 3rd quarter. Clear Street Markets LLC now owns 2,294 shares of the company’s stock valued at $40,000 after acquiring an additional 1,961 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OGN has been the topic of several research reports. Piper Sandler lifted their price target on Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. The Goldman Sachs Group boosted their price objective on shares of Organon & Co. from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday.

Insider Buying and Selling at Organon & Co.

In related news, insider Kirke Weaver bought 2,720 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were bought at an average price of $18.36 per share, for a total transaction of $49,939.20. Following the completion of the acquisition, the insider now owns 15,181 shares of the company’s stock, valued at approximately $278,723.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.17% of the company’s stock.

Organon & Co. Price Performance

Shares of NYSE:OGN opened at $19.61 on Friday. The business has a fifty day moving average price of $18.19 and a 200-day moving average price of $15.77. The company has a market capitalization of $5.04 billion, a PE ratio of 4.79, a PEG ratio of 0.92 and a beta of 0.81. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $24.08.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, February 15th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.14. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. Organon & Co. had a net margin of 16.50% and a negative return on equity of 259.73%. On average, sell-side analysts anticipate that Organon & Co. will post 4.1 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Monday, May 13th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend is Friday, May 10th. Organon & Co.’s dividend payout ratio (DPR) is 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.