Steward Partners Investment Advisory LLC Has $148,000 Stock Position in Organon & Co. (NYSE:OGN)

Steward Partners Investment Advisory LLC reduced its stake in Organon & Co. (NYSE:OGN) by 11.1% during the 4th quarter, HoldingsChannel reports. The firm owned 9,920 shares of the company’s stock after selling 1,241 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Organon & Co. were worth $148,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OGN. Pacer Advisors Inc. grew its position in Organon & Co. by 94,482.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company’s stock valued at $166,391,000 after acquiring an additional 11,140,388 shares during the period. Weiss Asset Management LP acquired a new stake in shares of Organon & Co. in the 3rd quarter valued at $32,966,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Organon & Co. by 303.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,242,135 shares of the company’s stock worth $23,762,000 after purchasing an additional 934,505 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Organon & Co. by 35.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company’s stock worth $63,570,000 after purchasing an additional 875,128 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Organon & Co. by 191.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 760,807 shares of the company’s stock valued at $11,382,000 after purchasing an additional 499,616 shares during the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OGN has been the topic of several research analyst reports. Barclays decreased their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. TD Cowen raised Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. Finally, Morgan Stanley cut their price objective on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.80.

Organon & Co. Price Performance

OGN opened at $15.34 on Monday. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. The stock has a market capitalization of $3.96 billion, a P/E ratio of 4.61, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. The company’s 50 day simple moving average is $15.46 and its 200-day simple moving average is $16.64. Organon & Co. has a one year low of $13.87 and a one year high of $23.10.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. Sell-side analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 7.30%. The ex-dividend date was Monday, February 24th. Organon & Co.’s dividend payout ratio is 33.63%.

About Organon & Co.

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.