Drive Wealth Management LLC Acquires New Position in Organon & Co. (NYSE:OGN)

Drive Wealth Management LLC acquired a new stake in Organon & Co. (NYSE:OGN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,955 shares of the company’s stock, valued at approximately $208,000.

A number of other hedge funds have also recently added to or reduced their stakes in OGN. American Century Companies Inc. lifted its position in shares of Organon & Co. by 76.4% during the 2nd quarter. American Century Companies Inc. now owns 29,509 shares of the company’s stock valued at $611,000 after acquiring an additional 12,782 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Organon & Co. by 6.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 166,835 shares of the company’s stock valued at $3,453,000 after acquiring an additional 9,755 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Organon & Co. by 23.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,407,915 shares of the company’s stock valued at $49,843,000 after acquiring an additional 463,216 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Organon & Co. during the 2nd quarter valued at approximately $1,120,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of Organon & Co. during the 2nd quarter valued at approximately $671,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $21.33.

Organon & Co. Trading Up 1.8 %

Shares of OGN opened at $16.26 on Tuesday. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. The firm has a 50 day simple moving average of $15.39 and a 200-day simple moving average of $18.03. Organon & Co. has a 1-year low of $13.87 and a 1-year high of $23.10. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 3.23, a price-to-earnings-growth ratio of 0.87 and a beta of 0.76.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the business earned $0.78 earnings per share. Equities analysts forecast that Organon & Co. will post 3.82 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were paid a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 6.89%. Organon & Co.’s payout ratio is currently 22.22%.

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.