Cacti Asset Management LLC Has $761,000 Position in Organon & Co. (NYSE:OGN)

Cacti Asset Management LLC reduced its stake in Organon & Co. (NYSE:OGN) by 18.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 41,263 shares of the company’s stock after selling 9,290 shares during the quarter. Cacti Asset Management LLC’s holdings in Organon & Co. were worth $761,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prevail Innovative Wealth Advisors LLC acquired a new stake in Organon & Co. in the 4th quarter worth approximately $3,336,000. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in Organon & Co. in the 4th quarter worth approximately $1,850,000. New York State Teachers Retirement System lifted its holdings in Organon & Co. by 20.1% in the 4th quarter. New York State Teachers Retirement System now owns 348,226 shares of the company’s stock worth $5,021,000 after purchasing an additional 58,321 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Organon & Co. by 417.8% in the 4th quarter. State of Alaska Department of Revenue now owns 157,249 shares of the company’s stock worth $2,267,000 after purchasing an additional 126,882 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Organon & Co. by 156.5% during the fourth quarter. Allianz Asset Management GmbH now owns 1,900,554 shares of the company’s stock worth $27,406,000 after buying an additional 1,159,519 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OGN. The Goldman Sachs Group upped their price target on Organon & Co. from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Piper Sandler upped their price target on Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday, April 29th.

Organon & Co. Stock Performance

Shares of NYSE OGN traded down $0.02 during trading hours on Tuesday, reaching $20.33. The stock had a trading volume of 368,506 shares, compared to its average volume of 2,442,409. The business’s fifty day moving average is $19.98 and its two-hundred day moving average is $17.54. The company has a debt-to-equity ratio of 181.35, a current ratio of 1.65 and a quick ratio of 1.15. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 4.97, a PEG ratio of 0.89 and a beta of 0.86. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $24.08.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.31. Organon & Co. had a negative return on equity of 360.57% and a net margin of 16.50%. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.57 billion. As a group, research analysts expect that Organon & Co. will post 4.3 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Monday, May 13th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date of this dividend was Friday, May 10th. Organon & Co.’s dividend payout ratio (DPR) is 27.38%.

About Organon & Co.

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.