Private Management Group Inc. Acquires 1,204,979 Shares of Organon & Co. $OGN

Key Points

• Private Management Group Inc. boosted its Organon & Co. stake by 38.3% in the fourth quarter, buying 1,204,979 shares and bringing its total holding to 4,347,073 shares worth about $31.2 million.
• Organon & Co. shares were trading up 0.7% at $13.48, near their 52-week high of $13.49, as the stock has rallied well above its 50-day and 200-day moving averages.
• The company recently reported earnings below expectations, posting $0.71 EPS versus $0.83 expected, while revenue also came in slightly short at $1.46 billion; analysts currently have a consensus rating of “Reduce.”

Private Management Group Inc. increased its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 38.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,347,073 shares of the company's stock after acquiring an additional 1,204,979 shares during the quarter. Private Management Group Inc. owned about 1.67% of Organon & Co. worth $31,169,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of OGN. Gotham Asset Management LLC increased its holdings in Organon & Co. by 37.2% in the 3rd quarter. Gotham Asset Management LLC now owns 3,713,204 shares of the company's stock valued at $39,657,000 after buying an additional 1,007,691 shares during the period. Vanguard Group Inc. increased its holdings in Organon & Co. by 11.3% in the 3rd quarter. Vanguard Group Inc. now owns 35,928,403 shares of the company's stock valued at $383,715,000 after buying an additional 3,650,860 shares during the period. UBS Group AG increased its holdings in Organon & Co. by 55.2% in the 4th quarter. UBS Group AG now owns 4,295,002 shares of the company's stock valued at $30,795,000 after buying an additional 1,527,492 shares during the period. Kahn Brothers Group Inc. increased its holdings in Organon & Co. by 3.6% in the 3rd quarter. Kahn Brothers Group Inc. now owns 3,616,845 shares of the company's stock valued at $38,628,000 after buying an additional 126,695 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in Organon & Co. by 1,062.1% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 254,500 shares of the company's stock valued at $1,825,000 after buying an additional 232,600 shares during the period. 77.43% of the stock is owned by institutional investors.

Organon & Co. Trading Up 0.7%

Shares of Organon & Co. stock opened at $13.48 on Friday. The firm has a market capitalization of $3.54 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.55. The company has a current ratio of 1.97, a quick ratio of 1.42 and a debt-to-equity ratio of 9.47. The firm's 50 day moving average is $11.47 and its 200 day moving average is $8.86. Organon & Co. has a 1 year low of $5.69 and a 1 year high of $13.49.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.12). The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. Organon & Co. had a net margin of 3.99% and a return on equity of 99.95%. The company's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $1.02 earnings per share. Equities research analysts forecast that Organon & Co. will post 3.23 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Monday, May 11th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. Organon & Co.'s payout ratio is 8.60%.

Insider Activity

In related news, SVP Lynette Holzbaur purchased 26,448 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average cost of $13.35 per share, with a total value of $353,080.80. Following the acquisition, the senior vice president owned 52,851 shares of the company's stock, valued at $705,560.85. This trade represents a 100.17% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on OGN shares. Zacks Research raised shares of Organon & Co. from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 14th. Barclays raised their target price on shares of Organon & Co. from $7.50 to $8.00 and gave the company an "underweight" rating in a report on Tuesday, February 24th. Weiss Ratings raised shares of Organon & Co. from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, May 15th. Piper Sandler raised shares of Organon & Co. from an "underweight" rating to a "neutral" rating and raised their target price for the company from $5.00 to $14.00 in a report on Tuesday, April 28th. Finally, BNP Paribas Exane reissued a "neutral" rating and issued a $14.00 target price (up from $12.00) on shares of Organon & Co. in a report on Wednesday, April 29th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Organon & Co. currently has a consensus rating of "Reduce" and an average price target of $11.40.

Organon & Co. Profile

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.

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