Squarepoint Ops LLC Acquires Shares of 32,408 Organon & Co. (NYSE:OGN)

Squarepoint Ops LLC bought a new position in Organon & Co. (NYSE:OGN - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 32,408 shares of the company's stock, valued at approximately $671,000.

Other hedge funds have also modified their holdings of the company. Evergreen Capital Management LLC boosted its position in shares of Organon & Co. by 4.0% in the second quarter. Evergreen Capital Management LLC now owns 30,830 shares of the company's stock worth $638,000 after buying an additional 1,189 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Organon & Co. by 8.0% in the second quarter. Public Sector Pension Investment Board now owns 565,866 shares of the company's stock worth $11,713,000 after buying an additional 41,954 shares during the period. Delap Wealth Advisory LLC boosted its position in shares of Organon & Co. by 37.4% in the second quarter. Delap Wealth Advisory LLC now owns 17,397 shares of the company's stock worth $360,000 after buying an additional 4,731 shares during the period. Frank Rimerman Advisors LLC boosted its position in shares of Organon & Co. by 63,250.6% in the second quarter. Frank Rimerman Advisors LLC now owns 50,047 shares of the company's stock worth $1,036,000 after buying an additional 49,968 shares during the period. Finally, Hancock Whitney Corp acquired a new stake in shares of Organon & Co. in the second quarter worth $881,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Stock Down 0.4 %

NYSE OGN traded down $0.07 during trading on Wednesday, hitting $18.03. 1,952,078 shares of the company traded hands, compared to its average volume of 2,183,278. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $23.10. The business has a fifty day simple moving average of $20.35 and a 200 day simple moving average of $20.17. The company has a current ratio of 1.64, a quick ratio of 1.17 and a debt-to-equity ratio of 60.05. The company has a market capitalization of $4.64 billion, a P/E ratio of 4.43, a PEG ratio of 0.82 and a beta of 0.84.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the company earned $1.31 earnings per share. The business's revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts predict that Organon & Co. will post 4.14 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were paid a $0.28 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.21%. Organon & Co.'s payout ratio is presently 27.38%.

Analysts Set New Price Targets

Several brokerages have recently commented on OGN. JPMorgan Chase & Co. cut Organon & Co. from a "neutral" rating to an "underweight" rating and raised their target price for the stock from $18.00 to $20.00 in a research report on Friday, September 6th. Evercore ISI raised Organon & Co. to a "strong-buy" rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Organon & Co. presently has an average rating of "Hold" and an average price target of $21.00.

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.