Kahn Brothers Group Inc. Has $38.63 Million Position in Organon & Co. $OGN

Kahn Brothers Group Inc. increased its stake in shares of Organon & Co. (NYSE:OGN) by 3.6% during the third quarter, HoldingsChannel reports. The fund owned 3,616,845 shares of the company’s stock after acquiring an additional 126,695 shares during the quarter. Organon & Co. makes up about 7.3% of Kahn Brothers Group Inc.’s portfolio, making the stock its 5th biggest holding. Kahn Brothers Group Inc.’s holdings in Organon & Co. were worth $38,628,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of OGN. Vanguard Group Inc. grew its position in Organon & Co. by 11.3% in the 3rd quarter. Vanguard Group Inc. now owns 35,928,403 shares of the company’s stock worth $383,715,000 after purchasing an additional 3,650,860 shares during the last quarter. State Street Corp lifted its stake in shares of Organon & Co. by 6.0% in the second quarter. State Street Corp now owns 9,520,594 shares of the company’s stock valued at $92,159,000 after buying an additional 540,478 shares during the period. AQR Capital Management LLC lifted its stake in shares of Organon & Co. by 136.1% in the second quarter. AQR Capital Management LLC now owns 3,254,884 shares of the company’s stock valued at $31,507,000 after buying an additional 1,876,264 shares during the period. Private Management Group Inc. grew its position in Organon & Co. by 46.4% during the second quarter. Private Management Group Inc. now owns 3,135,960 shares of the company’s stock worth $30,356,000 after buying an additional 993,950 shares in the last quarter. Finally, Brandywine Global Investment Management LLC increased its stake in Organon & Co. by 58.7% during the second quarter. Brandywine Global Investment Management LLC now owns 2,262,626 shares of the company’s stock valued at $21,902,000 after acquiring an additional 837,201 shares during the period. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on OGN. Morgan Stanley reduced their price objective on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 11th. Zacks Research lowered Organon & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. Wall Street Zen cut Organon & Co. from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Barclays lifted their price target on shares of Organon & Co. from $7.50 to $8.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $8.50.

Organon & Co. Price Performance

Organon & Co. stock opened at $7.17 on Tuesday. The company has a debt-to-equity ratio of 11.47, a current ratio of 1.82 and a quick ratio of 1.23. The company has a market capitalization of $1.87 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 0.66 and a beta of 0.58. Organon & Co. has a one year low of $6.18 and a one year high of $16.08. The business has a 50 day simple moving average of $8.00 and a 200 day simple moving average of $8.44.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.10). Organon & Co. had a net margin of 3.01% and a return on equity of 122.01%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the company earned $0.90 earnings per share. The business’s revenue was down 5.3% on a year-over-year basis. On average, sell-side analysts forecast that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Monday, February 23rd will be issued a $0.02 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $0.08 annualized dividend and a dividend yield of 1.1%. Organon & Co.’s dividend payout ratio is presently 11.27%.

Organon & Co. Profile

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.