SummerHaven Investment Management LLC Makes New $906,000 Investment in Organon & Co. $OGN

SummerHaven Investment Management LLC purchased a new stake in Organon & Co. (NYSE:OGN) during the third quarter, HoldingsChannel.com reports. The fund purchased 84,829 shares of the company’s stock, valued at approximately $906,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OGN. GAMMA Investing LLC boosted its holdings in Organon & Co. by 22.4% during the second quarter. GAMMA Investing LLC now owns 5,645 shares of the company’s stock valued at $55,000 after acquiring an additional 1,034 shares during the period. Maryland State Retirement & Pension System boosted its stake in Organon & Co. by 1.4% during the 2nd quarter. Maryland State Retirement & Pension System now owns 88,420 shares of the company’s stock valued at $856,000 after purchasing an additional 1,195 shares during the period. Rexford Capital Inc. boosted its stake in Organon & Co. by 14.9% during the 3rd quarter. Rexford Capital Inc. now owns 11,380 shares of the company’s stock valued at $122,000 after purchasing an additional 1,480 shares during the period. Amalgamated Bank grew its holdings in Organon & Co. by 1.9% in the 3rd quarter. Amalgamated Bank now owns 79,805 shares of the company’s stock valued at $852,000 after buying an additional 1,514 shares during the last quarter. Finally, Allworth Financial LP increased its position in Organon & Co. by 65.9% in the 2nd quarter. Allworth Financial LP now owns 4,501 shares of the company’s stock worth $44,000 after buying an additional 1,788 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on OGN shares. 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. Wall Street Zen upgraded shares of Organon & Co. from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Organon & Co. in a research report on Wednesday, October 8th. Piper Sandler downgraded 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. Finally, Morgan Stanley lowered their price target on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $8.38.

Organon & Co. Price Performance

Organon & Co. stock opened at $8.99 on Wednesday. The business has a 50 day simple moving average of $7.72 and a 200 day simple moving average of $8.74. The company has a debt-to-equity ratio of 9.69, a current ratio of 1.75 and a quick ratio of 1.20. The company has a market capitalization of $2.34 billion, a PE ratio of 4.68, a price-to-earnings-growth ratio of 1.89 and a beta of 0.58. Organon & Co. has a one year low of $6.18 and a one year high of $17.23.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Monday, November 10th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a return on equity of 143.47% and a net margin of 7.95%.During the same period in the prior year, the business posted $1.38 earnings per share. On average, sell-side analysts forecast that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

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

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.