Carmignac Gestion Takes Position in Organon & Co. $OGN

Carmignac Gestion bought a new position in Organon & Co. (NYSE:OGN) in the second quarter, HoldingsChannel.com reports. The fund bought 448,606 shares of the company’s stock, valued at approximately $6,074,000.

Several other large investors have also recently bought and sold shares of the company. Nykredit A S acquired a new position in shares of Organon & Co. during the second quarter valued at $76,000. Absolute Gestao de Investimentos Ltda. acquired a new stake in Organon & Co. in the second quarter worth about $9,007,000. Groupe la Francaise bought a new stake in Organon & Co. during the 2nd quarter worth about $10,499,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Organon & Co. during the 2nd quarter worth about $770,000. Finally, California State Teachers Retirement System lifted its position in Organon & Co. by 1,142.8% during the 2nd quarter. California State Teachers Retirement System now owns 4,064,911 shares of the company’s stock valued at $55,039,000 after purchasing an additional 3,737,836 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Trading Down 0.1%

Shares of Organon & Co. stock traded down $0.01 on Tuesday, hitting $13.77. 1,629,810 shares of the company’s stock traded hands, compared to its average volume of 5,635,393. The firm’s 50-day moving average price is $13.62 and its two-hundred day moving average price is $11.38. The stock has a market capitalization of $3.61 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.28 and a beta of 1.52. Organon & Co. has a one year low of $5.69 and a one year high of $13.78. The company has a debt-to-equity ratio of 8.43, a current ratio of 1.95 and a quick ratio of 1.44.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.6%. Organon & Co.’s payout ratio is 10.39%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Organon & Co. from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 3rd. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $11.40.

About Organon & Co.

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.