SG Americas Securities LLC Buys Shares of 8,689 Organon & Co. (NYSE:OGN)

SG Americas Securities LLC purchased a new stake in Organon & Co. (NYSE:OGN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,689 shares of the company’s stock, valued at approximately $180,000.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc raised its stake in Organon & Co. by 200.2% in the second quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock worth $25,000 after buying an additional 805 shares in the last quarter. Lindbrook Capital LLC increased its holdings in shares of Organon & Co. by 348.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock valued at $27,000 after acquiring an additional 1,428 shares during the period. Gladius Capital Management LP increased its holdings in shares of Organon & Co. by 65.1% in the 4th quarter. Gladius Capital Management LP now owns 2,176 shares of the company’s stock valued at $31,000 after acquiring an additional 858 shares during the period. GAMMA Investing LLC bought a new position in shares of Organon & Co. in the 4th quarter worth $38,000. Finally, Eagle Bay Advisors LLC lifted its stake in shares of Organon & Co. by 100.0% during the 4th quarter. Eagle Bay Advisors LLC now owns 2,800 shares of the company’s stock worth $40,000 after purchasing an additional 1,400 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Wall Street Analysts Forecast Growth

OGN has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Piper Sandler lifted their price objective on shares of Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th.

Organon & Co. Trading Up 7.0 %

Shares of NYSE:OGN opened at $22.36 on Friday. The business’s 50-day moving average is $20.72 and its 200 day moving average is $19.59. The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $22.61. The firm has a market capitalization of $5.75 billion, a P/E ratio of 5.47, a P/E/G ratio of 0.90 and a beta of 0.85.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data 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. The firm had revenue of $1.61 billion for 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 company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.31 earnings per share. On average, research analysts predict that Organon & Co. will post 4.14 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.12 annualized dividend and a dividend yield of 5.01%. Organon & Co.’s payout ratio is currently 27.38%.

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.