Algert Global LLC Invests $2.69 Million in Organon & Co. $OGN

Key Points

• Algert Global LLC acquired a new stake in Organon & Co. by purchasing 180,400 shares valued at approximately $2.7 million during the 1st quarter.
• Organon & Co. reported an earnings per share (EPS) of $1.00 for the last quarter, exceeding analysts' expectations of $0.94.
• The company announced a quarterly dividend of $0.02 per share, with a yield of 0.9%, and is set to distribute this dividend on September 11th.

Algert Global LLC purchased a new position in shares of Organon & Co. (NYSE:OGN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 180,400 shares of the company's stock, valued at approximately $2,686,000. Algert Global LLC owned 0.07% of Organon & Co. as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of OGN. GeoWealth Management LLC acquired a new position in shares of Organon & Co. during the fourth quarter worth $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Organon & Co. during the first quarter worth $60,000. PARK CIRCLE Co lifted its holdings in shares of Organon & Co. by 640.7% during the first quarter. PARK CIRCLE Co now owns 4,000 shares of the company's stock worth $60,000 after purchasing an additional 3,460 shares during the period. GAMMA Investing LLC raised its stake in Organon & Co. by 186.9% during the first quarter. GAMMA Investing LLC now owns 4,611 shares of the company's stock worth $69,000 after buying an additional 3,004 shares during the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in Organon & Co. during the fourth quarter worth $111,000. Institutional investors and hedge funds own 77.43% of the company's stock.

Organon & Co. Stock Up 0.2%

Shares of NYSE:OGN traded up $0.02 during midday trading on Tuesday, hitting $9.08. 3,565,586 shares of the company's stock were exchanged, compared to its average volume of 4,887,215. The company has a debt-to-equity ratio of 11.98, a current ratio of 1.65 and a quick ratio of 1.13. The stock has a 50 day moving average price of $9.64 and a 200-day moving average price of $11.35. The company has a market cap of $2.36 billion, a PE ratio of 3.38, a price-to-earnings-growth ratio of 0.82 and a beta of 0.60. Organon & Co. has a 12 month low of $8.01 and a 12 month high of $22.98.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.55 billion. Organon & Co. had a net margin of 11.15% and a return on equity of 163.88%. The firm's revenue for the quarter was down .8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.12 earnings per share. Organon & Co. has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 15th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.9%. Organon & Co.'s payout ratio is presently 2.97%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OGN shares. Morgan Stanley lowered their target price on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. Piper Sandler lowered their target price on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Evercore ISI downgraded shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. Finally, BNP Paribas raised shares of Organon & Co. to a "strong-buy" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.00.

Organon & Co. 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.