Lindbrook Capital LLC Boosts Holdings in Organon & Co. (NYSE:OGN)

Lindbrook Capital LLC boosted its position in shares of Organon & Co. (NYSE:OGN) by 348.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,838 shares of the company’s stock after acquiring an additional 1,428 shares during the period. Lindbrook Capital LLC’s holdings in Organon & Co. were worth $27,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in Organon & Co. by 2,016.0% during the 4th quarter. Nordea Investment Management AB now owns 3,128,810 shares of the company’s stock valued at $44,648,000 after purchasing an additional 2,980,945 shares in the last quarter. Invesco Ltd. increased its stake in Organon & Co. by 23.7% during the 3rd quarter. Invesco Ltd. now owns 10,240,630 shares of the company’s stock valued at $177,777,000 after purchasing an additional 1,963,682 shares in the last quarter. Sound Income Strategies LLC increased its stake in Organon & Co. by 140,626.7% during the 4th quarter. Sound Income Strategies LLC now owns 489,729 shares of the company’s stock valued at $7,062,000 after purchasing an additional 489,381 shares in the last quarter. FMR LLC increased its stake in Organon & Co. by 28.3% during the 3rd quarter. FMR LLC now owns 2,189,693 shares of the company’s stock valued at $38,013,000 after purchasing an additional 483,257 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Organon & Co. by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,280,300 shares of the company’s stock valued at $161,106,000 after purchasing an additional 436,034 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upped their price target on shares of Organon & Co. from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th.

Organon & Co. Price Performance

NYSE:OGN opened at $18.55 on Friday. The firm has a market capitalization of $4.74 billion, a P/E ratio of 4.64, a PEG ratio of 0.87 and a beta of 0.83. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $24.79. The company’s fifty day moving average price is $18.14 and its 200-day moving average price is $15.70.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data 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 firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. Organon & Co. had a net margin of 16.33% and a negative return on equity of 212.00%. Equities analysts anticipate that Organon & Co. will post 4.08 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, February 26th were given a dividend of $0.28 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.12 annualized dividend and a yield of 6.04%. Organon & Co.’s dividend payout ratio is presently 28.00%.

Insider Activity at Organon & Co.

In other news, insider Kirke Weaver purchased 2,720 shares of the company’s 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 owns 15,181 shares in the company, valued at $278,723.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.17% of the stock is owned by company insiders.

Organon & Co. 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.