Connor Clark & Lunn Investment Management Ltd. Invests $898,000 in Organon & Co. (NYSE:OGN)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Organon & Co. (NYSE:OGN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 60,217 shares of the company’s stock, valued at approximately $898,000.

A number of other institutional investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in shares of Organon & Co. by 71.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 6,408 shares of the company’s stock valued at $96,000 after purchasing an additional 2,670 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Organon & Co. by 0.5% during the fourth quarter. HighTower Advisors LLC now owns 163,440 shares of the company’s stock valued at $2,439,000 after purchasing an additional 855 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Organon & Co. by 14.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,269 shares of the company’s stock valued at $944,000 after acquiring an additional 7,763 shares during the last quarter. Kendall Capital Management lifted its holdings in shares of Organon & Co. by 3.6% in the 4th quarter. Kendall Capital Management now owns 57,545 shares of the company’s stock valued at $859,000 after acquiring an additional 2,025 shares during the last quarter. Finally, CM Management LLC lifted its holdings in shares of Organon & Co. by 50.0% in the 4th quarter. CM Management LLC now owns 150,000 shares of the company’s stock valued at $2,238,000 after acquiring an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Down 1.7 %

Shares of NYSE OGN opened at $15.33 on Friday. 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 company has a market cap of $3.95 billion, a P/E ratio of 4.60, a PEG ratio of 0.90 and a beta of 0.76. Organon & Co. has a 1 year low of $13.87 and a 1 year high of $23.10. The firm has a 50-day simple moving average of $15.44 and a two-hundred day simple moving average of $16.49.

Organon & Co. (NYSE:OGN) last announced 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 during the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. Research analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 7.31%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s dividend payout ratio is presently 33.63%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on OGN. TD Cowen raised shares of Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. Barclays lowered their price target on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Morgan Stanley lowered 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 report on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Organon & Co. presently has a consensus rating of “Hold” and a consensus 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.