Organon & Co. (NYSE:OGN) Shares Bought by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC grew its holdings in Organon & Co. (NYSE:OGN) by 72.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,710 shares of the company’s stock after acquiring an additional 13,706 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Organon & Co. were worth $615,000 at the end of the most recent reporting period.

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

Organon & Co. Stock Up 1.0 %

Organon & Co. stock opened at $20.32 on Thursday. The business’s 50-day moving average price is $20.58 and its 200 day moving average price is $18.24. The company has a quick ratio of 1.15, a current ratio of 1.65 and a debt-to-equity ratio of 181.35. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 4.97, a price-to-earnings-growth ratio of 0.88 and a beta of 0.85. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $24.08.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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, sell-side analysts anticipate that Organon & Co. will post 4.3 earnings per share for the current year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Monday, May 13th were issued a $0.28 dividend. The ex-dividend date was Friday, May 10th. This represents a $1.12 dividend on an annualized basis and a yield of 5.51%. Organon & Co.’s payout ratio is 27.38%.

Analyst Ratings Changes

Several research analysts have recently issued reports on OGN shares. Piper Sandler raised their price objective on Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. The Goldman Sachs Group upped their price objective 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. 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.