Organon & Co. (NYSE:OGN) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its stake in Organon & Co. (NYSE:OGN) by 31.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,262 shares of the company’s stock after selling 32,321 shares during the period. Corient Private Wealth LLC’s holdings in Organon & Co. were worth $1,033,000 at the end of the most recent reporting period.

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

Organon & Co. Stock Performance

NYSE OGN opened at $14.71 on Thursday. The company has a fifty day moving average of $15.39 and a two-hundred day moving average of $16.31. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. Organon & Co. has a 1 year low of $13.87 and a 1 year high of $23.10. The company has a market capitalization of $3.79 billion, a PE ratio of 4.42, a P/E/G ratio of 0.90 and a beta of 0.76.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.83 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%. As a group, analysts expect that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.62%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s dividend payout ratio is currently 33.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. TD Cowen raised shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Morgan Stanley lowered 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. Finally, Barclays cut their target price on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock 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 issued a strong buy rating to the company. According to MarketBeat, Organon & Co. presently has an average rating of “Hold” and an average target price of $20.80.

Organon & Co. Company Profile

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.