New Vernon Capital Holdings II LLC Acquires 230,650 Shares of Organon & Co. $OGN

Key Points

• New Vernon Capital Holdings II LLC significantly increased its stake in Organon & Co. by purchasing 230,650 additional shares, resulting in a total of 243,734 shares owned, worth approximately $3.63 million.
• Organon reported earnings of $1.00 per share, exceeding analyst expectations of $0.94, and generated revenue of $1.59 billion, slightly above the projected $1.55 billion.
• The firm announced a quarterly dividend of $0.02 per share, with a payout ratio of 2.97%, contributing to an annualized yield of 0.8%.

New Vernon Capital Holdings II LLC lifted its stake in Organon & Co. (NYSE:OGN - Free Report) by 1,762.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 243,734 shares of the company's stock after buying an additional 230,650 shares during the quarter. New Vernon Capital Holdings II LLC owned approximately 0.09% of Organon & Co. worth $3,629,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. SBI Securities Co. Ltd. lifted its holdings in shares of Organon & Co. by 17.6% in the first quarter. SBI Securities Co. Ltd. now owns 7,653 shares of the company's stock worth $114,000 after buying an additional 1,145 shares in the last quarter. Rafferty Asset Management LLC raised its stake in 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 purchasing an additional 1,194 shares in the last quarter. Handelsbanken Fonder AB raised its stake in 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 purchasing an additional 1,200 shares in the last quarter. Hsbc Holdings PLC increased its position in Organon & Co. by 13.9% during the fourth quarter. Hsbc Holdings PLC now owns 13,922 shares of the company's stock valued at $208,000 after acquiring an additional 1,703 shares during the last quarter. Finally, Xponance Inc. increased its position in 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. Hedge funds and other institutional investors own 77.43% of the company's stock.

Organon & Co. Trading Down 1.0%

Shares of NYSE OGN traded down $0.11 during mid-day trading on Tuesday, reaching $10.37. The company had a trading volume of 2,883,841 shares, compared to its average volume of 4,440,248. The business's 50-day moving average is $9.60 and its 200-day moving average is $10.96. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 11.98. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 3.85, a price-to-earnings-growth ratio of 0.95 and a beta of 0.60. Organon & Co. has a 52 week low of $8.01 and a 52 week high of $21.06.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.00 EPS for the quarter, topping 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 firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.55 billion. During the same period in the prior year, the business posted $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. Equities analysts expect that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, August 15th. Organon & Co.'s dividend payout ratio is presently 2.97%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on OGN shares. Piper Sandler cut their price objective on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. BNP Paribas upgraded shares of Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.33.

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.