Readystate Asset Management LP Trims Stock Holdings in Organon & Co. $OGN

Readystate Asset Management LP lowered its position in shares of Organon & Co. (NYSE:OGN) by 9.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 901,709 shares of the company’s stock after selling 95,256 shares during the quarter. Readystate Asset Management LP’s holdings in Organon & Co. were worth $9,630,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OGN. GAMMA Investing LLC boosted its position in Organon & Co. by 22.4% in the third quarter. GAMMA Investing LLC now owns 6,910 shares of the company’s stock valued at $74,000 after buying an additional 1,265 shares during the last quarter. Rexford Capital Inc. increased its stake in shares of Organon & Co. by 14.9% in the third quarter. Rexford Capital Inc. now owns 11,380 shares of the company’s stock worth $122,000 after acquiring an additional 1,480 shares during the period. Amalgamated Bank increased its stake in shares of Organon & Co. by 1.9% in the third quarter. Amalgamated Bank now owns 79,805 shares of the company’s stock worth $852,000 after acquiring an additional 1,514 shares during the period. Arizona State Retirement System raised its holdings in shares of Organon & Co. by 2.2% during the third quarter. Arizona State Retirement System now owns 76,924 shares of the company’s stock worth $822,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Rothschild Investment LLC lifted its position in Organon & Co. by 73.1% during the third quarter. Rothschild Investment LLC now owns 3,899 shares of the company’s stock valued at $42,000 after purchasing an additional 1,646 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Morgan Stanley cut their price target on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 11th. Barclays assumed coverage on Organon & Co. in a report on Tuesday, December 9th. They set an “underweight” rating and a $7.50 target price on the stock. Wall Street Zen downgraded Organon & Co. from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. JPMorgan Chase & Co. dropped their price objective on shares of Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 11th. Finally, Zacks Research lowered shares of Organon & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $8.38.

Organon & Co. Stock Performance

OGN opened at $7.29 on Wednesday. The firm’s fifty day simple moving average is $7.90 and its two-hundred day simple moving average is $8.54. Organon & Co. has a 52-week low of $6.18 and a 52-week high of $16.18. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 1.60 and a beta of 0.58. The company has a quick ratio of 1.20, a current ratio of 1.75 and a debt-to-equity ratio of 9.69.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.10). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.52 billion. Organon & Co. had a return on equity of 123.06% and a net margin of 3.01%.The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS. Equities analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Monday, February 23rd will be paid a $0.02 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.1%. Organon & Co.’s payout ratio is currently 11.27%.

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.