Sterneck Capital Management LLC Makes New Investment in Organon & Co. $OGN

Key Points

• Sterneck Capital Management LLC has acquired a new stake in Organon & Co., purchasing 47,092 shares valued at approximately $456,000 during the second quarter.
• Organon reported a quarterly EPS of $1.00, exceeding analysts' estimates of $0.94, with revenue of $1.59 billion for the quarter.
• The company recently declared a quarterly dividend of $0.02, representing an annualized dividend yield of 0.8% with a payout ratio of 2.97%.

Sterneck Capital Management LLC purchased a new stake in Organon & Co. (NYSE:OGN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 47,092 shares of the company's stock, valued at approximately $456,000.

Several other large investors also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its position 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 valued at $159,553,000 after acquiring an additional 820,378 shares in the last quarter. LSV Asset Management raised its stake in shares of Organon & Co. by 6.1% in the 1st quarter. LSV Asset Management now owns 7,980,775 shares of the company's stock valued at $118,834,000 after purchasing an additional 455,699 shares during the period. Private Management Group Inc. lifted its holdings in shares of Organon & Co. by 1.1% in the first quarter. Private Management Group Inc. now owns 2,142,010 shares of the company's stock valued at $31,895,000 after purchasing an additional 22,722 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Organon & Co. by 7.4% in the first quarter. Northern Trust Corp now owns 2,056,416 shares of the company's stock valued at $30,620,000 after purchasing an additional 142,301 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Organon & Co. by 126.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,435,198 shares of the company's stock worth $21,370,000 after buying an additional 801,307 shares during the period. Institutional investors own 77.43% of the company's stock.

Organon & Co. Stock Up 0.8%

Shares of Organon & Co. stock opened at $10.21 on Friday. The firm has a market cap of $2.65 billion, a PE ratio of 3.79, a P/E/G ratio of 0.93 and a beta of 0.60. The business's 50 day simple moving average is $9.77 and its 200 day simple moving average is $10.54. The company has a debt-to-equity ratio of 11.98, a quick ratio of 1.13 and a current ratio of 1.65. Organon & Co. has a 52-week low of $8.01 and a 52-week high of $19.41.

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

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 15th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.8%. Organon & Co.'s payout ratio is currently 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.

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