Gotham Asset Management LLC Purchases 596,936 Shares of Organon & Co. $OGN

Key Points

• Gotham Asset Management LLC increased its stake in Organon & Co. by 74.3%, now owning over 1.4 million shares, worth approximately $20.85 million.
• A number of institutional investors significantly boosted their holdings in Organon, with Brooklyn Investment Group growing its stake by 1,012.3% in the first quarter.
• Analysts have mixed ratings for Organon, with the stock receiving an average rating of "Moderate Buy" and a consensus price target of $18.00.

Gotham Asset Management LLC increased its position in Organon & Co. (NYSE:OGN - Free Report) by 74.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,400,250 shares of the company's stock after acquiring an additional 596,936 shares during the quarter. Gotham Asset Management LLC owned about 0.54% of Organon & Co. worth $20,850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OGN. Massachusetts Financial Services Co. MA increased its holdings in Organon & Co. by 8.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,715,445 shares of the company's stock worth $159,553,000 after acquiring an additional 820,378 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Organon & Co. during the 4th quarter valued at approximately $11,892,000. Siemens Fonds Invest GmbH purchased a new stake in Organon & Co. during the 4th quarter valued at approximately $8,998,000. Nuveen LLC purchased a new stake in Organon & Co. during the 1st quarter valued at approximately $8,773,000. Finally, Cerity Partners LLC grew its holdings in Organon & Co. by 77.1% during the 1st quarter. Cerity Partners LLC now owns 1,153,044 shares of the company's stock valued at $17,169,000 after buying an additional 501,959 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports 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 for the company in a report on Thursday, May 15th. BNP Paribas raised shares of Organon & Co. to a "strong-buy" rating in a research note 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.33.

Organon & Co. Stock Down 1.0%

Shares of OGN stock traded down $0.11 on Tuesday, hitting $10.37. The stock had a trading volume of 2,861,314 shares, compared to its average volume of 4,440,235. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 11.98. The business has a 50 day moving average price of $9.60 and a 200 day moving average price of $10.96. The company has a market cap of $2.69 billion, a PE ratio of 3.85, a P/E/G ratio of 0.95 and a beta of 0.60. Organon & Co. has a one year low of $8.01 and a one year high of $21.06.

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

Organon & Co. Dividend Announcement

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

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.