Wedmont Private Capital Boosts Stake in Organon & Co. (NYSE:OGN)

Wedmont Private Capital increased its stake in shares of Organon & Co. (NYSE:OGN) by 453.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,539 shares of the company’s stock after buying an additional 82,372 shares during the quarter. Wedmont Private Capital’s holdings in Organon & Co. were worth $1,594,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new stake in Organon & Co. during the 3rd quarter valued at about $25,000. William B. Walkup & Associates Inc. acquired a new position in Organon & Co. in the 2nd quarter worth approximately $31,000. Versant Capital Management Inc raised its position in Organon & Co. by 92.2% during the 4th quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock worth $41,000 after buying an additional 1,324 shares during the last quarter. Abich Financial Wealth Management LLC lifted its stake in Organon & Co. by 5,646.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after acquiring an additional 2,315 shares during the period. Finally, Trust Co. of Vermont boosted its holdings in shares of Organon & Co. by 109.4% in the 3rd quarter. Trust Co. of Vermont now owns 2,626 shares of the company’s stock valued at $50,000 after acquiring an additional 1,372 shares during the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th.

Organon & Co. Trading Down 1.4 %

Shares of NYSE:OGN opened at $15.63 on Tuesday. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. Organon & Co. has a 12-month low of $13.87 and a 12-month high of $23.10. The business has a 50 day moving average of $15.34 and a two-hundred day moving average of $18.34. The company has a market capitalization of $4.03 billion, a PE ratio of 3.10, a PEG ratio of 0.81 and a beta of 0.76.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $0.78 earnings per share. As a group, analysts forecast that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were issued a $0.28 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 7.17%. Organon & Co.’s payout ratio is 22.22%.

About Organon & Co.

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.