SummerHaven Investment Management LLC Acquires New Holdings in Organon & Co. $OGN

SummerHaven Investment Management LLC acquired a new position in Organon & Co. (NYSE:OGN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 84,829 shares of the company’s stock, valued at approximately $906,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D boosted its position in shares of Organon & Co. by 69.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 216,737 shares of the company’s stock valued at $2,098,000 after purchasing an additional 88,454 shares in the last quarter. Sector Gamma AS bought a new stake in Organon & Co. during the third quarter worth approximately $5,807,000. Bryce Point Capital LLC acquired a new position in Organon & Co. in the second quarter worth approximately $465,000. Coldstream Capital Management Inc. lifted its position in shares of Organon & Co. by 61.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 22,686 shares of the company’s stock valued at $220,000 after acquiring an additional 8,644 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Organon & Co. by 1,205.1% during the 2nd quarter. American Century Companies Inc. now owns 522,013 shares of the company’s stock worth $5,053,000 after acquiring an additional 482,016 shares in the last quarter. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Trading Down 1.2%

Shares of NYSE:OGN opened at $8.99 on Wednesday. The firm has a fifty day moving average of $7.72 and a two-hundred day moving average of $8.74. The company has a quick ratio of 1.20, a current ratio of 1.75 and a debt-to-equity ratio of 9.69. Organon & Co. has a 12-month low of $6.18 and a 12-month high of $17.23. The firm has a market capitalization of $2.34 billion, a P/E ratio of 4.68, a price-to-earnings-growth ratio of 1.89 and a beta of 0.58.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Monday, November 10th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.08. Organon & Co. had a return on equity of 143.47% and a net margin of 7.95%.The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the company earned $1.38 earnings per share. On average, equities analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, November 20th. Organon & Co.’s dividend payout ratio (DPR) is 4.17%.

Analysts Set New Price Targets

OGN has been the topic of a number of recent analyst reports. Piper Sandler lowered Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research report on Monday, October 27th. Barclays started coverage on Organon & Co. in a report on Tuesday, December 9th. They set an “underweight” rating and a $7.50 price objective on the stock. Wall Street Zen upgraded shares of Organon & Co. from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. JPMorgan Chase & Co. dropped their target price on shares of Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 11th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Organon & Co. in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $8.38.

Organon & Co. Company Profile

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.