Bayesian Capital Management LP Acquires Shares of 25,173 Organon & Co. (NYSE:OGN)

Bayesian Capital Management LP purchased a new stake in shares of Organon & Co. (NYSE:OGN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,173 shares of the company’s stock, valued at approximately $473,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of OGN. Raymond James Financial Services Advisors Inc. boosted its holdings in Organon & Co. by 39.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 115,213 shares of the company’s stock valued at $1,661,000 after acquiring an additional 32,413 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Organon & Co. by 417.8% during the 4th quarter. State of Alaska Department of Revenue now owns 157,249 shares of the company’s stock worth $2,267,000 after acquiring an additional 126,882 shares during the period. Ballentine Partners LLC purchased a new position in shares of Organon & Co. in the 4th quarter valued at approximately $239,000. Lewis Asset Management LLC bought a new stake in shares of Organon & Co. during the fourth quarter valued at approximately $153,000. Finally, SteelPeak Wealth LLC purchased a new stake in Organon & Co. in the fourth quarter worth $185,000. 77.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on OGN shares. Piper Sandler increased their price target on shares of Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. 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 research note on Friday, May 3rd.

Organon & Co. Stock Down 0.7 %

Shares of Organon & Co. stock traded down $0.16 on Wednesday, reaching $22.11. The company’s stock had a trading volume of 71,049 shares, compared to its average volume of 2,243,135. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 5.44, a P/E/G ratio of 1.04 and a beta of 0.85. The company has a quick ratio of 1.15, a current ratio of 1.65 and a debt-to-equity ratio of 181.35. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $24.08. The firm’s fifty day simple moving average is $20.89 and its two-hundred day simple moving average is $19.12.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.14 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.57 billion. Equities analysts anticipate that Organon & Co. will post 4.29 earnings per share for the current year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Monday, May 13th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend was Friday, May 10th. Organon & Co.’s dividend payout ratio (DPR) is presently 27.38%.

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.