Lighthouse Investment Partners LLC acquires 240,000 shares of Organon & Co. (NYSE:OGN)

Lighthouse Investment Partners LLC purchased a new position in shares of Organon & Co. (NYSE:OGN – Free Report) during the second quarter, HoldingsChannel reports. The fund acquired 240,000 shares of the company’s stock, valued at approximately $4,968,000.

Other institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc increased its holdings in shares of Organon & Co. by 200.2% in the second quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock valued at $25,000 after buying an additional 805 shares during the period. Atlas Capital Advisors LLC increased its holdings in shares of Organon & Co. by 2,236.5% in the second quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock valued at $46,000 after buying an additional 2,147 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Organon & Co. in the first quarter worth $43,000. Tompkins Financial Corp grew its holdings in shares of Organon & Co. by 450.7% in the first quarter. Tompkins Financial Corp now owns 2,412 shares of the company’s stock valued at $45,000 after buying an additional 1,974 shares during the period. Finally, Rothschild Investment LLC acquired a new position in shares of Organon & Co. in the second quarter worth $54,000. Institutional investors and hedge funds own 77.43% of the company’s shares.

Organon & Co. price performance

Shares of NYSE OGN opened at $19.18 on Friday. The firm has a market cap of $4.94 billion, a PE ratio of 4.69, a PEG ratio of 0.87 and a beta of 0.85. The company has a current ratio of 1.64, a quick ratio of 1.17, and a debt-to-equity ratio of 60.05. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $23.10. The company has a fifty day moving average price of $20.84 and a 200 day moving average price of $20.13.

Organon & Co. (NYSE:OGN – Get Your Free Report ) last announced its earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. The company’s revenue for the quarter was down 0.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.31 EPS. Research analysts predict that Organon & Co. will post 4.14 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were given a dividend of $0.28 per share. The ex-dividend date was Friday, August 16. This represents a dividend of $1.12 on an annualized basis and a dividend yield of 5.84%. Dividend payout rate organized by Organon & Co. is 27.38%.

Analysts set new price targets

Several brokerages have recently issued reports on OGN. Evercore ISI boosted Organon & Co shares. to a “strong-buy” rating in a report on Wednesday, September 18. JPMorgan Chase & Co. reduced Organon & Co. shares. from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $18.00 to $20.00 in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.00, based on data from MarketBeat.

Check out our latest report on Organon & Co.

Profile Organon & Co

(Free Report)

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices in 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, a progestin and estrogen used as a daily pill to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproductive technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix acetate injectable, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.

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