Boothbay Fund Management LLC Increases Position in Organon & Co. (NYSE:OGN)

Boothbay Fund Management LLC grew its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 564.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 204,456 shares of the company's stock after purchasing an additional 173,695 shares during the period. Boothbay Fund Management LLC owned approximately 0.08% of Organon & Co. worth $3,050,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Organon & Co. by 32.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company's stock valued at $41,000 after acquiring an additional 672 shares during the last quarter. Treasurer of the State of North Carolina boosted 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 worth $1,688,000 after buying an additional 710 shares during the last quarter. Beam Wealth Advisors Inc. boosted its position in Organon & Co. by 3.9% in the 4th quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company's stock worth $282,000 after purchasing an additional 717 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Organon & Co. by 0.5% in the 4th quarter. HighTower Advisors LLC now owns 163,440 shares of the company's stock valued at $2,439,000 after purchasing an additional 855 shares during the period. Finally, CIBC Asset Management Inc grew its position in Organon & Co. by 4.9% during the fourth quarter. CIBC Asset Management Inc now owns 25,523 shares of the company's stock valued at $381,000 after buying an additional 1,184 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Trading Down 27.0 %

Shares of Organon & Co. stock traded down $3.49 during trading hours on Thursday, hitting $9.44. The company's stock had a trading volume of 31,010,051 shares, compared to its average volume of 2,858,829. The firm has a fifty day moving average of $13.71 and a 200-day moving average of $15.08. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 2.83, a P/E/G ratio of 0.90 and a beta of 0.73. Organon & Co. has a twelve month low of $9.27 and a twelve month high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the prior year, the company earned $1.22 earnings per share. The business's quarterly revenue was down 6.7% on a year-over-year basis. Research analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 11.86%. The ex-dividend date was Monday, February 24th. Organon & Co.'s payout ratio is currently 33.63%.

Wall Street Analysts Forecast Growth

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

Organon & Co. Company Profile

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.