Readystate Asset Management LP Purchases 383,236 Shares of Organon & Co. (NYSE:OGN)

Readystate Asset Management LP boosted its position in shares of Organon & Co. (NYSE:OGN) by 3,452.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 394,336 shares of the company’s stock after purchasing an additional 383,236 shares during the quarter. Readystate Asset Management LP owned about 0.15% of Organon & Co. worth $5,686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OGN. Lindbrook Capital LLC raised its holdings in Organon & Co. by 348.3% during the 4th quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock worth $27,000 after purchasing an additional 1,428 shares during the last quarter. Wellington Shields Capital Management LLC bought a new stake in shares of Organon & Co. in the 4th quarter valued at about $27,000. Harvest Fund Management Co. Ltd increased its stake in shares of Organon & Co. by 495.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,602 shares of the company’s stock valued at $28,000 after acquiring an additional 1,333 shares during the last quarter. Gladius Capital Management LP increased its stake in shares of Organon & Co. by 65.1% in the 4th quarter. Gladius Capital Management LP now owns 2,176 shares of the company’s stock valued at $31,000 after acquiring an additional 858 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Organon & Co. in the 3rd quarter valued at about $35,000. 77.43% of the stock is owned by institutional investors.

Insider Activity at Organon & Co.

In other news, insider Kirke Weaver purchased 2,720 shares of Organon & Co. stock in a transaction on Thursday, February 22nd. The stock was purchased at an average price of $18.36 per share, with a total value of $49,939.20. Following the transaction, the insider now directly owns 15,181 shares in the company, valued at approximately $278,723.16. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.17% of the stock is owned by insiders.

Organon & Co. Stock Up 0.4 %

Shares of OGN traded up $0.08 on Wednesday, hitting $17.87. The company’s stock had a trading volume of 2,798,012 shares, compared to its average volume of 2,772,339. The firm’s fifty day moving average price is $17.96 and its 200-day moving average price is $15.61. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $24.79. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 4.47, a P/E/G ratio of 0.84 and a beta of 0.83.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.14. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. As a group, equities analysts predict that Organon & Co. will post 4.08 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, February 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.12 annualized dividend and a dividend yield of 6.27%. Organon & Co.’s dividend payout ratio is presently 28.00%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their price target on Organon & Co. from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th.

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.