Vanguard Group Inc. Purchases 218,165 Shares of Organon & Co. (NYSE:OGN)

Vanguard Group Inc. lifted its holdings in Organon & Co. (NYSE:OGN) by 0.7% during the fourth quarter, HoldingsChannel reports. The firm owned 30,401,709 shares of the company’s stock after purchasing an additional 218,165 shares during the period. Vanguard Group Inc. owned about 0.12% of Organon & Co. worth $453,593,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in OGN. MassMutual Private Wealth & Trust FSB grew its holdings in Organon & Co. by 32.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock valued at $41,000 after buying an additional 672 shares during the last quarter. Beam Wealth Advisors Inc. grew its stake in shares of Organon & Co. by 3.9% in the fourth quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company’s stock worth $282,000 after acquiring an additional 717 shares during the last quarter. HighTower Advisors LLC increased its position in Organon & Co. by 0.5% during the fourth quarter. HighTower Advisors LLC now owns 163,440 shares of the company’s stock worth $2,439,000 after acquiring an additional 855 shares during the period. CIBC Asset Management Inc raised its stake in Organon & Co. by 4.9% during the 4th quarter. CIBC Asset Management Inc now owns 25,523 shares of the company’s stock valued at $381,000 after purchasing an additional 1,184 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its holdings in Organon & Co. by 24.3% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 6,256 shares of the company’s stock valued at $93,000 after purchasing an additional 1,222 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Stock Performance

Organon & Co. stock opened at $14.12 on Wednesday. Organon & Co. has a 52-week low of $13.87 and a 52-week high of $23.10. 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 fifty day moving average price of $15.28 and a two-hundred day moving average price of $16.13. The firm has a market capitalization of $3.64 billion, a P/E ratio of 4.24, a P/E/G ratio of 0.90 and a beta of 0.76.

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

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a yield of 7.93%. Organon & Co.’s dividend payout ratio is 33.63%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Morgan Stanley decreased their price objective on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a 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 for the company in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.80.

Organon & Co. 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.