Private Management Group Inc. increased its holdings in shares of Organon & Co. (NYSE:OGN – Free Report) by 38.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,347,073 shares of the company’s stock after acquiring an additional 1,204,979 shares during the quarter. Private Management Group Inc.’s holdings in Organon & Co. were worth $31,169,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Organon & Co. in the 3rd quarter worth approximately $29,000. Rothschild Investment LLC lifted its position in shares of Organon & Co. by 73.1% in the 3rd quarter. Rothschild Investment LLC now owns 3,899 shares of the company’s stock worth $42,000 after purchasing an additional 1,646 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Organon & Co. by 87.8% in the 4th quarter. Farther Finance Advisors LLC now owns 4,349 shares of the company’s stock worth $31,000 after purchasing an additional 2,033 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Organon & Co. by 70.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 5,113 shares of the company’s stock worth $53,000 after purchasing an additional 2,109 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Organon & Co. in the 4th quarter worth approximately $44,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.
Organon & Co. Stock Up 0.7%
Organon & Co. stock opened at $13.48 on Friday. The company has a quick ratio of 1.42, a current ratio of 1.97 and a debt-to-equity ratio of 9.47. Organon & Co. has a 12-month low of $5.69 and a 12-month high of $13.49. The firm’s fifty day moving average is $11.47 and its 200 day moving average is $8.86. The company has a market capitalization of $3.54 billion, a PE ratio of 14.49, a PEG ratio of 1.24 and a beta of 1.55.
Organon & Co. Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Monday, May 11th were issued a dividend of $0.02 per share. The ex-dividend date was Monday, May 11th. This represents a $0.08 annualized dividend and a yield of 0.6%. Organon & Co.’s dividend payout ratio is presently 8.60%.
Insiders Place Their Bets
In other Organon & Co. news, SVP Lynette Holzbaur acquired 26,448 shares of the stock in a transaction on Wednesday, May 6th. The shares were purchased at an average price of $13.35 per share, for a total transaction of $353,080.80. Following the completion of the acquisition, the senior vice president owned 52,851 shares in the company, valued at approximately $705,560.85. This represents a 100.17% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.62% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on OGN. BNP Paribas Exane restated a “neutral” rating and issued a $14.00 price target (up from $12.00) on shares of Organon & Co. in a research report on Wednesday, April 29th. Piper Sandler upgraded shares of Organon & Co. from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $5.00 to $14.00 in a research report on Tuesday, April 28th. Barclays boosted their price target on shares of Organon & Co. from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 24th. Zacks Research upgraded shares of Organon & Co. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, Weiss Ratings upgraded shares of Organon & Co. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $11.40.
Get Our Latest Stock Report on OGN
About Organon & Co.
Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.
In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.
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