Gladius Capital Management LP Grows Stock Holdings in Organon & Co. (NYSE:OGN)

Gladius Capital Management LP grew its position in Organon & Co. (NYSE:OGN) by 65.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,176 shares of the company’s stock after buying an additional 858 shares during the quarter. Gladius Capital Management LP’s holdings in Organon & Co. were worth $31,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Aviance Capital Partners LLC bought a new position in Organon & Co. during the 4th quarter valued at $173,000. Apollon Wealth Management LLC bought a new position in shares of Organon & Co. during the 4th quarter valued at about $211,000. Maryland State Retirement & Pension System boosted its holdings in shares of Organon & Co. by 479.6% in the fourth quarter. Maryland State Retirement & Pension System now owns 112,268 shares of the company’s stock worth $1,619,000 after buying an additional 92,898 shares during the period. Spire Wealth Management lifted its holdings in shares of Organon & Co. by 60.0% in the fourth quarter. Spire Wealth Management now owns 6,283 shares of the company’s stock valued at $97,000 after purchasing an additional 2,355 shares in the last quarter. Finally, River Global Investors LLP acquired a new position in Organon & Co. during the fourth quarter valued at $712,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Kirke Weaver acquired 2,720 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was bought at an average cost of $18.36 per share, with a total value of $49,939.20. Following the acquisition, the insider now owns 15,181 shares of the company’s stock, valued at approximately $278,723.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.17% of the company’s stock.

Organon & Co. Price Performance

Shares of Organon & Co. stock traded up $0.15 during trading on Thursday, reaching $20.52. 2,023,524 shares of the company traded hands, compared to its average volume of 2,713,194. The firm has a market capitalization of $5.28 billion, a PE ratio of 5.02, a P/E/G ratio of 0.88 and a beta of 0.81. The company has a 50 day moving average price of $18.41 and a 200-day moving average price of $15.89. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $24.08.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.73 by $0.14. Organon & Co. had a negative return on equity of 259.73% and a net margin of 16.50%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. Equities research analysts expect that Organon & Co. will post 4.1 earnings per share for the current year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Monday, May 13th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, May 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.46%. Organon & Co.’s payout ratio is 27.38%.

Wall Street Analysts Forecast Growth

OGN has been the subject of several research reports. Piper Sandler increased their target price on shares of Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. The Goldman Sachs Group increased their target price 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. Company 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.