CoreCap Advisors LLC acquired a new position in Organon & Co. (NYSE:OGN – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,915 shares of the company’s stock, valued at approximately $53,000.
Several other hedge funds have also added to or reduced their stakes in OGN. State Street Corp raised its position in Organon & Co. by 27.8% in the first quarter. State Street Corp now owns 11,958,385 shares of the company’s stock worth $417,706,000 after acquiring an additional 2,599,728 shares during the period. Mawer Investment Management Ltd. raised its position in Organon & Co. by 22.1% in the fourth quarter. Mawer Investment Management Ltd. now owns 13,179,805 shares of the company’s stock worth $368,112,000 after acquiring an additional 2,381,668 shares during the period. Armistice Capital LLC bought a new stake in Organon & Co. in the third quarter worth about $39,593,000. Balyasny Asset Management LLC raised its position in Organon & Co. by 464.1% in the third quarter. Balyasny Asset Management LLC now owns 1,324,302 shares of the company’s stock worth $30,989,000 after acquiring an additional 1,089,533 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Organon & Co. by 10.1% in the third quarter. Bank of New York Mellon Corp now owns 9,066,304 shares of the company’s stock worth $212,151,000 after acquiring an additional 834,392 shares during the period. Institutional investors own 75.74% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Raymond James assumed coverage on shares of Organon & Co. in a research report on Wednesday, March 15th. They issued an “outperform” rating and a $33.00 price target on the stock.
Organon & Co. Stock Up 0.6 %
Organon & Co. (NYSE:OGN – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.10). The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Organon & Co. had a net margin of 12.14% and a negative return on equity of 119.00%. Organon & Co.’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 EPS. Equities analysts expect that Organon & Co. will post 4.2 EPS for the current year.
Organon & Co. Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Monday, May 15th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 12th. This represents a $1.12 annualized dividend and a yield of 5.78%. Organon & Co.’s dividend payout ratio is currently 38.36%.
About Organon & Co.
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.
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