Seven Eight Capital LP Acquires New Holdings in Organon & Co. (NYSE:OGN)

Seven Eight Capital LP bought a new position in shares of Organon & Co. (NYSE:OGN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 54,148 shares of the company’s stock, valued at approximately $1,121,000.

Several other institutional investors and hedge funds have also bought and sold shares of OGN. Mercer Global Advisors Inc. ADV grew its holdings in shares of Organon & Co. by 1.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,086 shares of the company’s stock valued at $674,000 after purchasing an additional 546 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Organon & Co. by 3.0% during the second quarter. Ballentine Partners LLC now owns 19,105 shares of the company’s stock valued at $395,000 after buying an additional 552 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in shares of Organon & Co. by 1.8% in the first quarter. Atomi Financial Group Inc. now owns 32,858 shares of the company’s stock worth $618,000 after buying an additional 593 shares during the period. Bill Few Associates Inc. lifted its stake in shares of Organon & Co. by 5.4% in the 2nd quarter. Bill Few Associates Inc. now owns 12,218 shares of the company’s stock valued at $253,000 after acquiring an additional 621 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Organon & Co. by 19.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,036 shares of the company’s stock valued at $84,000 after acquiring an additional 649 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Down 3.4 %

NYSE OGN opened at $19.49 on Friday. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $23.10. The stock has a market capitalization of $5.01 billion, a PE ratio of 4.77, a PEG ratio of 0.89 and a beta of 0.85. The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17. The business’s 50-day moving average is $21.04 and its 200 day moving average is $20.07.

Organon & Co. (NYSE:OGN) last posted its earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.04. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the previous year, the firm earned $1.31 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. Sell-side analysts forecast that Organon & Co. will post 4.14 earnings per share for the current year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.12 annualized dividend and a dividend yield of 5.75%. Organon & Co.’s dividend payout ratio is 27.38%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. cut Organon & Co. from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $18.00 to $20.00 in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.17.

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.