Hexagon Capital Partners LLC Purchases 1,454 Shares of Organon & Co. (NYSE:OGN)

Hexagon Capital Partners LLC grew its holdings in shares of Organon & Co. (NYSE:OGN) by 123.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,628 shares of the company’s stock after buying an additional 1,454 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Organon & Co. were worth $49,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prevail Innovative Wealth Advisors LLC purchased a new stake in Organon & Co. in the fourth quarter worth $3,336,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of Organon & Co. during the fourth quarter worth approximately $1,850,000. New York State Teachers Retirement System boosted its holdings in shares of Organon & Co. by 20.1% in the fourth quarter. New York State Teachers Retirement System now owns 348,226 shares of the company’s stock valued at $5,021,000 after purchasing an additional 58,321 shares during the period. State of Alaska Department of Revenue grew its stake in Organon & Co. by 417.8% in the fourth quarter. State of Alaska Department of Revenue now owns 157,249 shares of the company’s stock worth $2,267,000 after purchasing an additional 126,882 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in Organon & Co. by 156.5% during the 4th quarter. Allianz Asset Management GmbH now owns 1,900,554 shares of the company’s stock worth $27,406,000 after purchasing an additional 1,159,519 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Trading Down 2.0 %

OGN opened at $20.29 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.15 and a debt-to-equity ratio of 181.35. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 4.96, a PEG ratio of 0.90 and a beta of 0.85. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $24.08. The stock has a fifty day moving average price of $20.52 and a 200-day moving average price of $18.17.

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

Organon & Co. Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.12 dividend on an annualized basis and a yield of 5.52%. Organon & Co.’s payout ratio is 27.38%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on OGN shares. Piper Sandler raised their price target 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 boosted their price target on shares of Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, May 3rd.

Organon & Co. Company Profile

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.