Readystate Asset Management LP Takes $4.76 Million Position in Organon & Co. $OGN

Readystate Asset Management LP acquired a new position in shares of Organon & Co. (NYSE:OGN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 351,863 shares of the company’s stock, valued at approximately $4,764,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wedmont Private Capital acquired a new stake in Organon & Co. in the 2nd quarter valued at approximately $136,000. Nykredit A S acquired a new position in shares of Organon & Co. during the second quarter worth approximately $76,000. Kahn Brothers Group Inc. bought a new stake in shares of Organon & Co. in the second quarter valued at approximately $36,159,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Organon & Co. in the second quarter worth $1,010,000. Finally, Handelsbanken Fonder AB grew its stake in shares of Organon & Co. by 24.8% in the second quarter. Handelsbanken Fonder AB now owns 113,800 shares of the company’s stock worth $1,541,000 after acquiring an additional 22,600 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Price Performance

Shares of OGN stock opened at $13.78 on Monday. The stock has a market cap of $3.62 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 1.28 and a beta of 1.52. Organon & Co. has a one year low of $5.69 and a one year high of $13.78. The stock has a fifty day moving average price of $13.61 and a 200 day moving average price of $11.34. The company has a debt-to-equity ratio of 8.43, a current ratio of 1.95 and a quick ratio of 1.44.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a $0.02 dividend. The ex-dividend date is Friday, August 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.6%. Organon & Co.’s dividend payout ratio is currently 10.39%.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Organon & Co. from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 3rd. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $11.40.

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.