Handelsbanken Fonder AB Purchases 4,800 Shares of Organon & Co. (NYSE:OGN)

Handelsbanken Fonder AB grew its position in Organon & Co. (NYSE:OGN) by 11.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,800 shares of the company’s stock after purchasing an additional 4,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Organon & Co. were worth $660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB boosted its holdings in Organon & Co. by 2,016.0% in the 4th quarter. Nordea Investment Management AB now owns 3,128,810 shares of the company’s stock worth $44,648,000 after buying an additional 2,980,945 shares during the period. Invesco Ltd. grew its position in shares of Organon & Co. by 23.7% during the third quarter. Invesco Ltd. now owns 10,240,630 shares of the company’s stock worth $177,777,000 after purchasing an additional 1,963,682 shares in the last quarter. Sound Income Strategies LLC raised its stake in Organon & Co. by 140,626.7% during the 4th quarter. Sound Income Strategies LLC now owns 489,729 shares of the company’s stock valued at $7,062,000 after purchasing an additional 489,381 shares during the period. FMR LLC lifted its holdings in Organon & Co. by 28.3% in the 3rd quarter. FMR LLC now owns 2,189,693 shares of the company’s stock worth $38,013,000 after purchasing an additional 483,257 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Organon & Co. by 4.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,280,300 shares of the company’s stock worth $161,106,000 after purchasing an additional 436,034 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Organon & Co.

In related news, insider Kirke Weaver bought 2,720 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average price of $18.36 per share, with a total value of $49,939.20. Following the transaction, the insider now owns 15,181 shares in the company, valued at approximately $278,723.16. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.17% of the company’s stock.

Organon & Co. Stock Performance

OGN stock opened at $18.90 on Tuesday. The firm has a fifty day moving average price of $18.14 and a 200 day moving average price of $15.69. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $24.79. The firm has a market cap of $4.86 billion, a PE ratio of 4.73, a price-to-earnings-growth ratio of 0.88 and a beta of 0.82.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.73 by $0.14. Organon & Co. had a net margin of 16.33% and a negative return on equity of 212.00%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. On average, equities analysts predict that Organon & Co. will post 4.08 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, February 26th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.12 annualized dividend and a yield of 5.93%. Organon & Co.’s payout ratio is currently 28.00%.

Wall Street Analyst Weigh In

OGN has been the topic of several research analyst reports. Piper Sandler boosted their target price on shares of Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday. The Goldman Sachs Group boosted their price target on shares of Organon & Co. from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 20th.

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.