Boothbay Fund Management LLC Makes New Investment in Organon & Co. (NYSE:OGN)

Posted by Defense World Staff on Mar 5th, 2023

Boothbay Fund Management LLC purchased a new position in Organon & Co. (NYSE:OGN – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,726 shares of the company’s stock, valued at approximately $228,000.

Other large investors also recently modified their holdings of the company. Twin Tree Management LP bought a new stake in shares of Organon & Co. in the third quarter worth about $76,000. Barclays PLC increased its holdings in shares of Organon & Co. by 20.7% in the third quarter. Barclays PLC now owns 170,870 shares of the company’s stock worth $3,997,000 after acquiring an additional 29,261 shares in the last quarter. Banque Pictet & Cie SA bought a new stake in shares of Organon & Co. in the second quarter worth about $1,712,000. Jump Financial LLC increased its holdings in shares of Organon & Co. by 42.2% in the third quarter. Jump Financial LLC now owns 19,203 shares of the company’s stock worth $449,000 after acquiring an additional 5,701 shares in the last quarter. Finally, ING Groep NV bought a new stake in shares of Organon & Co. in the second quarter worth about $254,000. 75.74% of the stock is currently owned by institutional investors.

Organon & Co. Price Performance

Shares of Organon & Co. stock opened at $24.56 on Friday. Organon & Co. has a 1 year low of $22.88 and a 1 year high of $39.20. The business has a 50-day moving average of $28.81 and a two-hundred day moving average of $27.24. The company has a market capitalization of $6.25 billion, a P/E ratio of 6.84, a price-to-earnings-growth ratio of 0.97 and a beta of 0.80.

Organon & Co. (NYSE:OGN – Get Rating) last posted its quarterly earnings data on Thursday, February 16th. The company reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Organon & Co. had a negative return on equity of 118.21% and a net margin of 14.85%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company earned $1.37 earnings per share. The firm’s quarterly revenue was down 7.4% on a year-over-year basis. On average, equities analysts anticipate that Organon & Co. will post 4.43 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Monday, February 27th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, February 24th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.56%. Organon & Co.’s dividend payout ratio (DPR) is currently 31.20%.

Organon & Co. Company Profile

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Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.