KLP Kapitalforvaltning AS Purchases Shares of 54,400 Organon & Co. (NYSE:OGN)

KLP Kapitalforvaltning AS acquired a new position in Organon & Co. (NYSE:OGN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,400 shares of the company’s stock, valued at approximately $812,000.

Other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in Organon & Co. by 94,482.1% in the 4th quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company’s stock valued at $166,391,000 after purchasing an additional 11,140,388 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Organon & Co. by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,248,108 shares of the company’s stock valued at $81,288,000 after buying an additional 82,220 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Organon & Co. by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,333,703 shares of the company’s stock valued at $49,739,000 after buying an additional 10,652 shares during the period. Private Management Group Inc. lifted its position in Organon & Co. by 11.9% during the 4th quarter. Private Management Group Inc. now owns 2,119,288 shares of the company’s stock worth $31,620,000 after acquiring an additional 225,420 shares in the last quarter. Finally, Magnetar Financial LLC boosted its holdings in Organon & Co. by 560.2% in the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company’s stock worth $25,878,000 after acquiring an additional 1,471,731 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

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

Organon & Co. Stock Performance

Shares of Organon & Co. stock opened at $14.92 on Tuesday. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. Organon & Co. has a 1 year low of $13.87 and a 1 year high of $23.10. The firm’s 50-day simple moving average is $15.32 and its 200-day simple moving average is $16.17. The firm has a market cap of $3.85 billion, a PE ratio of 4.48, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76.

Organon & Co. (NYSE:OGN) last released its earnings results on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.09). The firm had revenue of $1.59 billion for 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%. Equities analysts forecast that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 7.51%. The ex-dividend date was Monday, February 24th. Organon & Co.’s dividend payout ratio is presently 33.63%.

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.