GAMMA Investing LLC Has $1.02 Million Position in Organon & Co. (NYSE:OGN)

GAMMA Investing LLC increased its stake in Organon & Co. (NYSE:OGN - Free Report) by 4,172.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 68,658 shares of the company's stock after purchasing an additional 67,051 shares during the quarter. GAMMA Investing LLC's holdings in Organon & Co. were worth $1,022,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina lifted its holdings in Organon & Co. by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 113,120 shares of the company's stock worth $1,688,000 after purchasing an additional 710 shares during the last quarter. Beam Wealth Advisors Inc. increased 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 buying an additional 717 shares during the period. HighTower Advisors LLC increased its position in Organon & Co. by 0.5% in the 4th quarter. HighTower Advisors LLC now owns 163,440 shares of the company's stock worth $2,439,000 after buying an additional 855 shares during the period. CIBC Asset Management Inc increased its position in Organon & Co. by 4.9% in the 4th 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. Finally, Rafferty Asset Management LLC increased its position in Organon & Co. by 5.6% in the 4th quarter. Rafferty Asset Management LLC now owns 22,627 shares of the company's stock worth $338,000 after buying an additional 1,194 shares during the period. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Stock Performance

OGN opened at $10.20 on Tuesday. The stock has a market cap of $2.65 billion, a PE ratio of 3.06, a P/E/G ratio of 0.90 and a beta of 0.58. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. Organon & Co. has a 1 year low of $8.01 and a 1 year high of $23.10. The stock's 50 day simple moving average is $10.05 and its 200-day simple moving average is $13.36.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.13. The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.53 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. Organon & Co.'s quarterly revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 earnings per share. Sell-side analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Monday, May 12th. Organon & Co.'s dividend payout ratio is presently 2.78%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. BNP Paribas raised Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. Evercore ISI downgraded Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. Piper Sandler dropped their price target on Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Finally, Morgan Stanley dropped their price target on Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.00.

Insider Activity at Organon & Co.

In related news, CEO Kevin Ali purchased 34,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average price of $8.80 per share, with a total value of $299,200.00. Following the purchase, the chief executive officer now directly owns 282,731 shares in the company, valued at $2,488,032.80. This represents a 13.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Daniel Karp purchased 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average cost of $8.24 per share, for a total transaction of $28,840.00. Following the purchase, the vice president now owns 46,669 shares in the company, valued at $384,552.56. This represents a 8.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 102,345 shares of company stock valued at $902,430 in the last 90 days. 1.96% of the stock is owned by corporate insiders.

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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