KLP Kapitalforvaltning AS Grows Position in Organon & Co. $OGN

KLP Kapitalforvaltning AS lifted its holdings in shares of Organon & Co. (NYSE:OGN) by 10.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,400 shares of the company’s stock after purchasing an additional 5,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Organon & Co. were worth $536,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Douglas Lane & Associates LLC grew its holdings in shares of Organon & Co. by 19.0% during the 2nd quarter. Douglas Lane & Associates LLC now owns 315,952 shares of the company’s stock worth $3,058,000 after purchasing an additional 50,393 shares during the period. Triumph Capital Management grew its holdings in shares of Organon & Co. by 109.1% during the 2nd quarter. Triumph Capital Management now owns 90,342 shares of the company’s stock worth $875,000 after purchasing an additional 47,127 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of Organon & Co. by 42.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 19,392 shares of the company’s stock worth $289,000 after purchasing an additional 5,758 shares during the period. M&T Bank Corp grew its holdings in shares of Organon & Co. by 3.4% during the 1st quarter. M&T Bank Corp now owns 55,990 shares of the company’s stock worth $833,000 after purchasing an additional 1,854 shares during the period. Finally, WBI Investments LLC purchased a new position in shares of Organon & Co. during the 1st quarter worth $946,000. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Price Performance

OGN opened at $9.28 on Friday. The stock’s 50-day moving average price is $9.93 and its 200 day moving average price is $10.02. Organon & Co. has a 12-month low of $8.01 and a 12-month high of $19.05. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 11.98. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 3.45, a PEG ratio of 0.84 and a beta of 0.63.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.55 billion. Organon & Co. had a return on equity of 163.88% and a net margin of 11.15%.Organon & Co.’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. Organon & Co. has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 15th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.9%. Organon & Co.’s dividend payout ratio (DPR) is currently 2.97%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Organon & Co. in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.33.

About Organon & Co.

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.