Dark Forest Capital Management LP Buys Shares of 43,531 Organon & Co. (NYSE:OGN)

Dark Forest Capital Management LP purchased a new position in shares of Organon & Co. (NYSE:OGN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 43,531 shares of the company's stock, valued at approximately $649,000.

A number of other hedge funds have also added to or reduced their stakes in OGN. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Organon & Co. by 32.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company's stock valued at $41,000 after purchasing an additional 672 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Organon & Co. by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 113,120 shares of the company's stock valued at $1,688,000 after buying an additional 710 shares during the period. Beam Wealth Advisors Inc. grew its stake in shares of Organon & Co. by 3.9% in the fourth quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company's stock worth $282,000 after purchasing an additional 717 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Organon & Co. by 0.5% during the fourth quarter. HighTower Advisors LLC now owns 163,440 shares of the company's stock worth $2,439,000 after acquiring an additional 855 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Organon & Co. by 4.9% during the fourth quarter. CIBC Asset Management Inc now owns 25,523 shares of the company's stock worth $381,000 after buying an additional 1,184 shares during the period. Institutional investors own 77.43% of the company's stock.

Organon & Co. Price Performance

NYSE OGN traded down $3.27 on Thursday, hitting $9.67. The stock had a trading volume of 17,695,776 shares, compared to its average volume of 2,808,267. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. Organon & Co. has a 52-week low of $9.27 and a 52-week high of $23.10. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of 2.91, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73. The firm has a 50-day moving average of $13.71 and a 200-day moving average of $15.08.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.10. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the business posted $1.22 earnings per share. Organon & Co.'s revenue for the quarter was down 6.7% on a year-over-year basis. Equities analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 11.59%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.'s payout ratio is 33.63%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on OGN shares. Morgan Stanley reduced their price objective on shares of Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Barclays decreased their target price on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Finally, TD Cowen raised Organon & Co. to a "hold" rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Organon & Co. has a consensus rating of "Hold" and an average price target of $19.75.

About Organon & Co.

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women's health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.