Headlands Technologies LLC Acquires New Holdings in Organon & Co. (NYSE:OGN)

Headlands Technologies LLC bought a new position in shares of Organon & Co. (NYSE:OGN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,704 shares of the company’s stock, valued at approximately $56,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. LSV Asset Management grew its stake in shares of Organon & Co. by 47.3% in the second quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock worth $136,843,000 after purchasing an additional 2,121,940 shares during the last quarter. Norges Bank acquired a new stake in shares of Organon & Co. in the fourth quarter valued at about $26,321,000. Wedge Capital Management L L P NC bought a new position in shares of Organon & Co. during the second quarter worth about $33,573,000. Allianz Asset Management GmbH boosted its holdings in Organon & Co. by 156.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,900,554 shares of the company’s stock valued at $27,406,000 after acquiring an additional 1,159,519 shares during the last quarter. Finally, Kahn Brothers Group Inc. raised its holdings in Organon & Co. by 3,242.4% during the 1st quarter. Kahn Brothers Group Inc. now owns 1,180,204 shares of the company’s stock worth $22,188,000 after purchasing an additional 1,144,894 shares during the last quarter. 77.43% of the stock is owned by institutional investors.

Organon & Co. Stock Performance

Shares of OGN stock opened at $20.88 on Tuesday. The firm has a 50 day moving average of $21.04 and a 200-day moving average of $20.05. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 5.11, a price-to-earnings-growth ratio of 0.89 and a beta of 0.85. The company has a quick ratio of 1.17, a current ratio of 1.64 and a debt-to-equity ratio of 60.05. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $23.10.

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

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 16th were paid a $0.28 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a yield of 5.36%. Organon & Co.’s dividend payout ratio (DPR) is presently 27.38%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $18.00 to $20.00 in a research report on Friday, September 6th. One investment 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’s stock. According to data from MarketBeat, Organon & Co. presently has a consensus rating of “Hold” and an average target price of $22.17.

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.