Norges Bank Makes New $25.26 Million Investment in Organon & Co. (NYSE:OGN)

Norges Bank acquired a new stake in shares of Organon & Co. (NYSE:OGN) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 1,692,916 shares of the company’s stock, valued at approximately $25,258,000.

Several other institutional investors have also modified their holdings of OGN. Horizon Bancorp Inc. IN raised its holdings in Organon & Co. by 2,401.5% during the 4th quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock valued at $25,000 after buying an additional 1,585 shares during the period. Millstone Evans Group LLC purchased a new position in Organon & Co. during the fourth quarter worth $29,000. Larson Financial Group LLC increased its position in Organon & Co. by 345.4% during the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after acquiring an additional 1,734 shares during the last quarter. Riverview Trust Co raised its stake in shares of Organon & Co. by 117.7% in the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock valued at $36,000 after acquiring an additional 1,292 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Organon & Co. by 92.2% in the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock valued at $41,000 after acquiring an additional 1,324 shares during the period. 77.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

OGN has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price target on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. TD Cowen upgraded Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Finally, Barclays reduced their price target on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.80.

Organon & Co. Trading Down 9.8 %

Shares of OGN opened at $13.04 on Monday. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 3.91, a PEG ratio of 0.90 and a beta of 0.73. 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 $13.00 and a 1-year high of $23.10. The company has a 50-day moving average of $15.16 and a 200 day moving average of $15.99.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results 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). The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. On average, research analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 8.59%. The ex-dividend date was Monday, February 24th. Organon & Co.’s 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.