Readystate Asset Management LP Makes New Investment in Organon & Co. $OGN

Key Points

• Readystate Asset Management LP purchased 351,863 shares of Organon & Co. worth approximately $4.76 million, giving it a 0.13% stake. Institutional investors collectively own 77.43% of the company.
• Organon’s stock opened at $13.78, near its 52-week high, while the company declared a quarterly dividend of $0.02 per share, equivalent to a 0.6% yield.
• Analyst sentiment remains cautious: five analysts rate the stock Hold and two rate it Sell, producing a consensus “Reduce” rating and an average price target of $11.40.

Readystate Asset Management LP bought a new stake in Organon & Co. (NYSE:OGN - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 351,863 shares of the company's stock, valued at approximately $4,764,000. Readystate Asset Management LP owned 0.13% of Organon & Co. at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in OGN. AQR Capital Management LLC increased its position in Organon & Co. by 105.2% in the 4th quarter. AQR Capital Management LLC now owns 8,570,958 shares of the company's stock worth $61,282,000 after purchasing an additional 4,394,814 shares during the last quarter. Kahn Brothers Group Inc. acquired a new stake in shares of Organon & Co. during the 2nd quarter valued at about $36,159,000. UBS Group AG grew its stake in shares of 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 in the last quarter. First Trust Advisors LP grew its stake in shares of Organon & Co. by 78.1% in the 1st quarter. First Trust Advisors LP now owns 3,227,320 shares of the company's stock valued at $19,332,000 after buying an additional 1,415,239 shares in the last quarter. Finally, Private Management Group Inc. increased its holdings in Organon & Co. by 38.3% in the fourth quarter. Private Management Group Inc. now owns 4,347,073 shares of the company's stock worth $31,169,000 after buying an additional 1,204,979 shares during the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Stock Performance

OGN opened at $13.78 on Monday. The company has a debt-to-equity ratio of 8.43, a quick ratio of 1.44 and a current ratio of 1.95. The company has a market cap of $3.62 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.28 and a beta of 1.52. The stock has a 50-day moving average of $13.61 and a 200-day moving average of $11.34. Organon & Co. has a 52-week low of $5.69 and a 52-week high of $13.78.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, August 14th. Organon & Co.'s dividend payout ratio (DPR) is 10.39%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Organon & Co. from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, August 3rd. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Organon & Co. presently has an average rating of "Reduce" and an average price target of $11.40.

Organon & Co. Company 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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