Drive Wealth Management LLC Invests $267,000 in Organon & Co. $OGN

Key Points

• Drive Wealth Management LLC invested $267,000 in Organon & Co. by acquiring 27,569 shares in the second quarter, marking a significant new stake in the company.
• Organon reported earnings of $1.00 per share in its latest quarter, exceeding analysts’ expectations of $0.94, but showed a revenue decline of 0.8% year-over-year.
• The company announced a quarterly dividend of $0.02 per share, resulting in an annualized dividend yield of 0.9%, with a low payout ratio of 2.97%.

Drive Wealth Management LLC bought a new stake in shares of Organon & Co. (NYSE:OGN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 27,569 shares of the company's stock, valued at approximately $267,000.

Several other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in shares of Organon & Co. by 22.4% in the second quarter. GAMMA Investing LLC now owns 5,645 shares of the company's stock valued at $55,000 after acquiring an additional 1,034 shares during the period. SBI Securities Co. Ltd. grew its position in Organon & Co. by 17.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 7,653 shares of the company's stock worth $114,000 after purchasing an additional 1,145 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of Organon & Co. by 1.4% during the 2nd quarter. Maryland State Retirement & Pension System now owns 88,420 shares of the company's stock worth $856,000 after purchasing an additional 1,195 shares during the period. Yousif Capital Management LLC increased its holdings in shares of Organon & Co. by 2.3% during the 2nd quarter. Yousif Capital Management LLC now owns 79,975 shares of the company's stock worth $774,000 after purchasing an additional 1,789 shares during the period. Finally, Xponance Inc. raised its position in shares of Organon & Co. by 15.2% during the first quarter. Xponance Inc. now owns 13,828 shares of the company's stock valued at $206,000 after buying an additional 1,823 shares during the last quarter. 77.43% of the stock is owned by institutional investors.

Organon & Co. Trading Down 0.4%

Shares of OGN stock opened at $9.25 on Tuesday. The firm has a fifty day moving average of $9.94 and a 200-day moving average of $9.97. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 3.44, a P/E/G ratio of 0.84 and a beta of 0.63. Organon & Co. has a 52-week low of $8.01 and a 52-week high of $19.05. The company has a debt-to-equity ratio of 11.98, a quick ratio of 1.13 and a current ratio of 1.65.

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

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 15th were issued a $0.02 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.9%. Organon & Co.'s dividend payout ratio is presently 2.97%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d+)" rating on shares of Organon & Co. in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $17.33.

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.

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