Range Financial Group LLC Increases Stock Position in Organon & Co. (NYSE:OGN)

Range Financial Group LLC increased its holdings in Organon & Co. (NYSE:OGN) by 242.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 39,355 shares of the company’s stock after purchasing an additional 27,860 shares during the period. Range Financial Group LLC’s holdings in Organon & Co. were worth $740,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. UBS Group AG increased its position in Organon & Co. by 88.3% during the third quarter. UBS Group AG now owns 657,912 shares of the company’s stock valued at $11,421,000 after acquiring an additional 308,470 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in shares of Organon & Co. by 16.3% in the 3rd quarter. Rafferty Asset Management LLC now owns 45,731 shares of the company’s stock worth $794,000 after purchasing an additional 6,399 shares during the period. Nordea Investment Management AB increased its stake in shares of Organon & Co. by 69.5% in the 3rd quarter. Nordea Investment Management AB now owns 147,865 shares of the company’s stock worth $2,564,000 after purchasing an additional 60,653 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Organon & Co. by 250.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 199,036 shares of the company’s stock worth $3,455,000 after purchasing an additional 142,301 shares during the period. Finally, FMR LLC increased its position in Organon & Co. by 28.3% in the third quarter. FMR LLC now owns 2,189,693 shares of the company’s stock worth $38,013,000 after buying an additional 483,257 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Piper Sandler lifted their target price on Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. The Goldman Sachs Group increased their price target on Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd.

Organon & Co. Stock Performance

Shares of NYSE OGN traded up $0.28 during trading on Monday, reaching $21.12. 1,346,731 shares of the company traded hands, compared to its average volume of 2,440,092. The stock has a market cap of $5.43 billion, a P/E ratio of 5.10, a PEG ratio of 0.89 and a beta of 0.87. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $24.08. The firm’s fifty day simple moving average is $20.17 and its 200 day simple moving average is $17.80. The company has a current ratio of 1.65, a quick ratio of 1.15 and a debt-to-equity ratio of 181.35.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.83 by $0.31. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a negative return on equity of 360.57% and a net margin of 16.50%. As a group, research analysts anticipate that Organon & Co. will post 4.3 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Monday, May 13th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.30%. Organon & Co.’s dividend payout ratio (DPR) 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.