Kestra Private Wealth Services LLC Buys 1,523 Shares of Organon & Co. (NYSE:OGN)

Kestra Private Wealth Services LLC lifted its stake in shares of Organon & Co. (NYSE:OGN) by 7.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 21,216 shares of the company’s stock after acquiring an additional 1,523 shares during the period. Kestra Private Wealth Services LLC’s holdings in Organon & Co. were worth $306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lindbrook Capital LLC lifted its stake in Organon & Co. by 348.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock worth $27,000 after purchasing an additional 1,428 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Organon & Co. by 495.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,602 shares of the company’s stock worth $28,000 after buying an additional 1,333 shares in the last quarter. Headlands Technologies LLC bought a new position in Organon & Co. during the third quarter valued at approximately $35,000. GAMMA Investing LLC purchased a new position in shares of Organon & Co. during the fourth quarter worth approximately $38,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Organon & Co. by 97.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,246 shares of the company’s stock valued at $39,000 after purchasing an additional 1,110 shares during the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Kirke Weaver purchased 2,720 shares of Organon & Co. stock in a transaction that occurred on Thursday, February 22nd. The shares were bought at an average price of $18.36 per share, for a total transaction of $49,939.20. Following the completion of the transaction, the insider now directly owns 15,181 shares of the company’s stock, valued at $278,723.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.17% of the company’s stock.

Organon & Co. Stock Down 0.1 %

Shares of OGN opened at $20.37 on Thursday. The stock has a market capitalization of $5.24 billion, a P/E ratio of 5.00, a PEG ratio of 0.88 and a beta of 0.81. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $24.08. The firm has a fifty day simple moving average of $18.30 and a two-hundred day simple moving average of $15.82.

Organon & Co. (NYSE:OGN) last posted its earnings results on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. Organon & Co. had a net margin of 16.50% and a negative return on equity of 259.73%. Sell-side analysts expect that Organon & Co. will post 4.1 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Monday, May 13th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date of this dividend is Friday, May 10th. Organon & Co.’s payout ratio is currently 27.38%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on OGN shares. The Goldman Sachs Group upped their price target on shares of Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Piper Sandler increased their target price on Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, April 29th.

Organon & Co. Company Profile

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.