Drive Wealth Management LLC Invests $267,000 in Organon & Co. $OGN

Drive Wealth Management LLC purchased a new stake in shares of Organon & Co. (NYSE:OGN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 27,569 shares of the company’s stock, valued at approximately $267,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OGN. Hanson & Doremus Investment Management bought a new stake in Organon & Co. during the second quarter worth about $26,000. Ransom Advisory Ltd acquired a new position in shares of Organon & Co. in the 1st quarter worth approximately $32,000. Brooklyn Investment Group grew its position in Organon & Co. by 1,012.3% during the 1st quarter. Brooklyn Investment Group now owns 3,070 shares of the company’s stock worth $46,000 after acquiring an additional 2,794 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in Organon & Co. during the 2nd quarter valued at $48,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Organon & Co. in the 1st quarter valued at $51,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Stock Performance

OGN stock opened at $9.25 on Tuesday. The company has a 50 day moving average price of $9.94 and a 200 day moving average price of $9.97. Organon & Co. has a fifty-two week low of $8.01 and a fifty-two week high of $19.05. The company has a debt-to-equity ratio of 11.98, a current ratio of 1.65 and a quick ratio of 1.13. The stock has a market capitalization of $2.40 billion, a PE ratio of 3.44, a price-to-earnings-growth ratio of 0.84 and a beta of 0.63.

Organon & Co. (NYSE:OGN) last released its earnings results on Tuesday, August 5th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.94 by $0.06. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Organon & Co. had a return on equity of 163.88% and a net margin of 11.15%.The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm earned $1.12 EPS. Organon & Co. has set its FY 2025 guidance at EPS. Analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 15th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, August 15th. Organon & Co.’s dividend payout ratio (DPR) is 2.97%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Organon & Co. in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.33.

Organon & Co. 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.