Douglas Lane & Associates LLC Raises Holdings in Organon & Co. $OGN

Key Points

• Douglas Lane & Associates LLC increased its stake in Organon & Co. by 19.0%, owning a total of 315,952 shares worth approximately $3.06 million.
• Organon & Co. reported earnings of $1.00 per share for the most recent quarter, exceeding analysts' expectations, with a reported revenue of $1.59 billion.
• The company recently declared a quarterly dividend of $0.02 per share, resulting in an annualized yield of 0.8%.

Douglas Lane & Associates LLC raised its stake in Organon & Co. (NYSE:OGN - Free Report) by 19.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 315,952 shares of the company's stock after purchasing an additional 50,393 shares during the period. Douglas Lane & Associates LLC owned 0.12% of Organon & Co. worth $3,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OGN. Captrust Financial Advisors grew its stake in Organon & Co. by 22.5% in the fourth quarter. Captrust Financial Advisors now owns 29,853 shares of the company's stock valued at $445,000 after purchasing an additional 5,489 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Organon & Co. by 62.7% in the fourth quarter. Cetera Investment Advisers now owns 76,005 shares of the company's stock worth $1,134,000 after acquiring an additional 29,287 shares in the last quarter. Focus Partners Wealth acquired a new stake in Organon & Co. in the fourth quarter worth about $627,000. Lazard Asset Management LLC boosted its holdings in Organon & Co. by 90.9% in the fourth quarter. Lazard Asset Management LLC now owns 14,509 shares of the company's stock worth $216,000 after acquiring an additional 6,909 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Organon & Co. by 50.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,114 shares of the company's stock worth $1,553,000 after acquiring an additional 34,702 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company's stock.

Organon & Co. Price Performance

Shares of OGN stock traded down $0.29 during trading hours on Friday, hitting $10.57. 897,853 shares of the company's stock were exchanged, compared to its average volume of 4,389,454. 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 firm has a market cap of $2.75 billion, a P/E ratio of 3.93, a P/E/G ratio of 0.95 and a beta of 0.60. The firm has a 50 day moving average of $9.68 and a two-hundred day moving average of $10.76. Organon & Co. has a fifty-two week low of $8.01 and a fifty-two week high of $20.09.

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, topping the consensus estimate of $0.94 by $0.06. The business 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 business's quarterly revenue was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $1.12 EPS. Organon & Co. has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, BNP Paribas raised Organon & Co. to a "strong-buy" rating in a 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 assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average 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.