Organon & Co. $OGN Shares Purchased by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue increased its stake in Organon & Co. by 110.7% in Q2, owning 300,714 shares worth approximately $2.91 million.
• Organon reported Q2 earnings of $1.00 EPS, exceeding estimates, with revenues of $1.59 billion, down 0.8% from the previous year.
• The company declared a $0.02 quarterly dividend, indicating a modest annual yield of 0.7%.

State of Alaska Department of Revenue increased its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 110.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,714 shares of the company's stock after purchasing an additional 158,014 shares during the period. State of Alaska Department of Revenue owned 0.12% of Organon & Co. worth $2,910,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position in shares of Organon & Co. by 8.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,715,445 shares of the company's stock worth $159,553,000 after purchasing an additional 820,378 shares during the last quarter. LSV Asset Management raised its position in shares of Organon & Co. by 6.1% during the 1st quarter. LSV Asset Management now owns 7,980,775 shares of the company's stock worth $118,834,000 after purchasing an additional 455,699 shares during the last quarter. Private Management Group Inc. raised its position in shares of Organon & Co. by 1.1% during the 1st quarter. Private Management Group Inc. now owns 2,142,010 shares of the company's stock worth $31,895,000 after purchasing an additional 22,722 shares during the last quarter. Northern Trust Corp raised its position in shares of Organon & Co. by 7.4% during the 1st quarter. Northern Trust Corp now owns 2,056,416 shares of the company's stock worth $30,620,000 after purchasing an additional 142,301 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Organon & Co. by 126.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,435,198 shares of the company's stock worth $21,370,000 after purchasing an additional 801,307 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Trading Up 3.2%

Shares of Organon & Co. stock opened at $10.68 on Wednesday. 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. has a 1 year low of $8.01 and a 1 year high of $19.15. The company has a market capitalization of $2.78 billion, a P/E ratio of 3.97, a P/E/G ratio of 0.94 and a beta of 0.60. The business has a 50 day moving average price of $9.81 and a 200 day moving average price of $10.47.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, topping 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 company's quarterly revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 EPS. Organon & Co. has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 15th were issued a $0.02 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.08 annualized dividend and a yield of 0.7%. Organon & Co.'s payout ratio is 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.

Want to see what other hedge funds are holding OGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Organon & Co. (NYSE:OGN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.