MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Holdings in Organon & Co. $OGN

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Organon & Co. by 870.8% during the first quarter, now owning approximately 1,010,789 shares valued at $15.05 million.
• Organon recently announced a quarterly dividend of $0.02 per share, translating to an annual yield of 0.8% with a payout ratio of 2.97%.
• The company's stock, OGN, rose by 3.9% to reach $10.66, with a market capitalization of $2.77 billion and a price-to-earnings ratio of 3.96.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 870.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,010,789 shares of the company's stock after acquiring an additional 906,675 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.39% of Organon & Co. worth $15,051,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. raised its stake in shares of Organon & Co. by 17.6% during the first quarter. SBI Securities Co. Ltd. now owns 7,653 shares of the company's stock valued at $114,000 after acquiring an additional 1,145 shares during the last quarter. Rafferty Asset Management LLC raised its stake in shares of Organon & Co. by 5.6% during the fourth quarter. Rafferty Asset Management LLC now owns 22,627 shares of the company's stock valued at $338,000 after acquiring an additional 1,194 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of Organon & Co. by 1.5% during the first quarter. Handelsbanken Fonder AB now owns 81,565 shares of the company's stock valued at $1,215,000 after acquiring an additional 1,200 shares during the last quarter. Xponance Inc. raised its stake 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 acquiring an additional 1,823 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of Organon & Co. by 6.5% during the first quarter. Brown Advisory Inc. now owns 30,174 shares of the company's stock valued at $449,000 after acquiring an additional 1,835 shares during the last quarter. 77.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, 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 assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $17.33.

Organon & Co. Trading Down 0.1%

OGN stock traded down $0.01 during trading on Friday, reaching $10.65. The company had a trading volume of 2,698,179 shares, compared to its average volume of 3,483,656. Organon & Co. has a 52 week low of $8.01 and a 52 week high of $21.06. The company has a market cap of $2.77 billion, a P/E ratio of 3.96, a PEG ratio of 0.97 and a beta of 0.60. The business has a 50 day moving average of $9.64 and a 200 day moving average of $10.82. The company has a debt-to-equity ratio of 11.98, a current ratio of 1.65 and a quick ratio of 1.13.

Organon & Co. (NYSE:OGN - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the firm earned $1.12 earnings per share. The business's revenue for the quarter was down .8% on a year-over-year basis. Organon & Co. has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 15th were paid a dividend of $0.02 per share. 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 0.8%. Organon & Co.'s dividend payout ratio (DPR) is currently 2.97%.

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.