Raymond James Financial Inc. Increases Stake in Organon & Co. $OGN

Raymond James Financial Inc. increased its position in shares of Organon & Co. (NYSE:OGN) by 13.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 318,128 shares of the company’s stock after buying an additional 37,018 shares during the period. Raymond James Financial Inc.’s holdings in Organon & Co. were worth $4,737,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in OGN. Fox Run Management L.L.C. purchased a new position in Organon & Co. during the 1st quarter valued at about $157,000. KLCM Advisors Inc. increased its holdings in Organon & Co. by 3.7% during the first quarter. KLCM Advisors Inc. now owns 1,273,599 shares of the company’s stock valued at $18,964,000 after buying an additional 45,950 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in Organon & Co. during the first quarter valued at approximately $333,000. Public Sector Pension Investment Board increased its holdings in shares of Organon & Co. by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 816,736 shares of the company’s stock valued at $12,161,000 after acquiring an additional 175,092 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Organon & Co. in the 1st quarter valued at $8,773,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Price Performance

Shares of OGN stock opened at $10.37 on Friday. Organon & Co. has a fifty-two week low of $8.01 and a fifty-two week high of $21.25. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 3.85, a PEG ratio of 0.88 and a beta of 0.60. The company has a debt-to-equity ratio of 11.98, a quick ratio of 1.13 and a current ratio of 1.65. The stock’s 50-day simple moving average is $9.59 and its 200-day simple moving average is $11.06.

Organon & Co. (NYSE:OGN) last released its earnings results on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.06. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.55 billion. Organon & Co. had a net margin of 11.15% and a return on equity of 163.88%. Organon & Co.’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 EPS. Organon & Co. has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.8%. Organon & Co.’s payout ratio is 2.97%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OGN. Piper Sandler cut their price target on Organon & Co. from $24.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, May 15th. BNP Paribas upgraded Organon & Co. to a “strong-buy” rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Organon & Co. currently has an average rating of “Moderate Buy” and an average target price of $17.33.

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.