AlphaQuest LLC Grows Holdings in Organon & Co. $OGN

AlphaQuest LLC lifted its stake in shares of Organon & Co. (NYSE:OGN) by 64,378.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,054 shares of the company’s stock after buying an additional 18,026 shares during the quarter. AlphaQuest LLC’s holdings in Organon & Co. were worth $175,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Organon & Co. by 186.9% during the 1st quarter. GAMMA Investing LLC now owns 4,611 shares of the company’s stock worth $69,000 after acquiring an additional 3,004 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Organon & Co. during the first quarter worth about $60,000. Principal Financial Group Inc. grew its stake in Organon & Co. by 2.4% in the first quarter. Principal Financial Group Inc. now owns 1,278,678 shares of the company’s stock worth $19,040,000 after purchasing an additional 29,881 shares in the last quarter. Penserra Capital Management LLC grew its stake in Organon & Co. by 21.6% in the first quarter. Penserra Capital Management LLC now owns 40,092 shares of the company’s stock worth $596,000 after purchasing an additional 7,120 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Organon & Co. by 25.3% in the first quarter. Envestnet Asset Management Inc. now owns 303,138 shares of the company’s stock valued at $4,514,000 after buying an additional 61,228 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on OGN. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Organon & Co. in a report on Wednesday, October 8th. Piper Sandler lowered Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.00.

Organon & Co. Stock Down 0.8%

NYSE:OGN opened at $6.70 on Tuesday. 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 stock has a 50 day moving average of $9.61 and a 200-day moving average of $9.68. The firm has a market capitalization of $1.74 billion, a PE ratio of 2.49, a price-to-earnings-growth ratio of 0.61 and a beta of 0.63. Organon & Co. has a 52 week low of $6.18 and a 52 week high of $18.02.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data 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. Organon & Co. had a return on equity of 163.88% and a net margin of 11.15%.The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The business’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts predict that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Company Profile

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.