Wedmont Private Capital Takes Position in Organon & Co. (NYSE:OGN)

Wedmont Private Capital purchased a new position in Organon & Co. (NYSE:OGN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,628 shares of the company’s stock, valued at approximately $214,000.

A number of other large investors also recently added to or reduced their stakes in OGN. Fruth Investment Management increased its stake in shares of Organon & Co. by 1.9% during the fourth quarter. Fruth Investment Management now owns 37,040 shares of the company’s stock worth $534,000 after purchasing an additional 700 shares in the last quarter. GAMMA Investing LLC increased its stake in Organon & Co. by 29.5% during the 1st quarter. GAMMA Investing LLC now owns 3,387 shares of the company’s stock worth $64,000 after buying an additional 772 shares in the last quarter. Gladius Capital Management LP increased its stake in Organon & Co. by 65.1% during the 4th quarter. Gladius Capital Management LP now owns 2,176 shares of the company’s stock worth $31,000 after buying an additional 858 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Organon & Co. by 7.6% during the fourth quarter. Raymond James Trust N.A. now owns 13,868 shares of the company’s stock valued at $200,000 after acquiring an additional 983 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Organon & Co. by 8.3% in the fourth quarter. CWM LLC now owns 14,217 shares of the company’s stock valued at $205,000 after acquiring an additional 1,087 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Price Performance

NYSE:OGN opened at $20.84 on Monday. Organon & Co. has a one year low of $10.84 and a one year high of $24.08. The stock has a market cap of $5.36 billion, a PE ratio of 5.10, a P/E/G ratio of 0.89 and a beta of 0.87. The company has a debt-to-equity ratio of 181.35, a quick ratio of 1.15 and a current ratio of 1.65. The stock has a 50 day moving average price of $20.17 and a 200 day moving average price of $17.80.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, May 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.31. Organon & Co. had a negative return on equity of 360.57% and a net margin of 16.50%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Equities research analysts expect that Organon & Co. will post 4.3 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Monday, May 13th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 5.37%. The ex-dividend date was Friday, May 10th. Organon & Co.’s payout ratio is currently 27.38%.

Wall Street Analyst Weigh In

OGN has been the subject of several recent research reports. Piper Sandler increased their price objective on Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. The Goldman Sachs Group increased their target price on shares of Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd.

About Organon & Co.

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.