Private Management Group Inc. Acquires 1,027,276 Shares of Organon & Co. (NYSE:OGN)

Private Management Group Inc. boosted its holdings in shares of Organon & Co. (NYSE:OGN) by 78.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,335,238 shares of the company’s stock after purchasing an additional 1,027,276 shares during the quarter. Organon & Co. comprises 1.3% of Private Management Group Inc.’s portfolio, making the stock its 21st biggest holding. Private Management Group Inc.’s holdings in Organon & Co. were worth $33,674,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Nordea Investment Management AB boosted its holdings in shares of Organon & Co. by 2,016.0% during the 4th quarter. Nordea Investment Management AB now owns 3,128,810 shares of the company’s stock valued at $44,648,000 after purchasing an additional 2,980,945 shares during the last quarter. Invesco Ltd. increased its stake in Organon & Co. by 23.7% in the 3rd quarter. Invesco Ltd. now owns 10,240,630 shares of the company’s stock worth $177,777,000 after acquiring an additional 1,963,682 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Organon & Co. by 140,626.7% during the 4th quarter. Sound Income Strategies LLC now owns 489,729 shares of the company’s stock worth $7,062,000 after acquiring an additional 489,381 shares in the last quarter. FMR LLC boosted its position in shares of Organon & Co. by 28.3% during the 3rd quarter. FMR LLC now owns 2,189,693 shares of the company’s stock valued at $38,013,000 after acquiring an additional 483,257 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Organon & Co. by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 9,280,300 shares of the company’s stock valued at $161,106,000 after purchasing an additional 436,034 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Price Performance

Shares of Organon & Co. stock traded up $0.52 on Tuesday, reaching $18.52. The company had a trading volume of 1,696,342 shares, compared to its average volume of 2,745,442. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 4.63, a P/E/G ratio of 0.84 and a beta of 0.82. The firm’s 50-day moving average price is $18.10 and its two-hundred day moving average price is $15.65. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $24.79.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. As a group, analysts anticipate that Organon & Co. will post 4.08 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.05%. Organon & Co.’s dividend payout ratio is 28.00%.

Wall Street Analyst Weigh In

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

Insider Activity

In other Organon & Co. news, insider Kirke Weaver acquired 2,720 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were bought 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 of the company’s stock, valued at approximately $278,723.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.17% of the company’s stock.

About Organon & Co.

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.