Geode Capital Management LLC Buys 12,110 Shares of Organon & Co. (NYSE:OGN)

Geode Capital Management LLC lifted its stake in Organon & Co. (NYSE:OGN) by 0.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,260,218 shares of the company’s stock after purchasing an additional 12,110 shares during the period. Geode Capital Management LLC’s holdings in Organon & Co. were worth $63,582,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Horizon Bancorp Inc. IN boosted its holdings in Organon & Co. by 2,401.5% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after purchasing an additional 1,585 shares during the last quarter. Millstone Evans Group LLC bought a new position in shares of Organon & Co. during the 4th quarter valued at $29,000. Larson Financial Group LLC boosted its stake in shares of Organon & Co. by 345.4% in the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock worth $33,000 after buying an additional 1,734 shares during the last quarter. Riverview Trust Co grew its holdings 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 worth $36,000 after acquiring an additional 1,292 shares during the period. Finally, Versant Capital Management Inc increased its position in Organon & Co. by 92.2% during 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 last quarter. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Trading Down 2.3 %

Organon & Co. stock opened at $11.17 on Friday. Organon & Co. has a 12-month low of $10.94 and a 12-month high of $23.10. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 3.35, a P/E/G ratio of 0.90 and a beta of 0.73. The firm has a 50 day moving average of $14.64 and a 200 day moving average of $15.67. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73.

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 analysts’ consensus estimates 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%. As a group, research analysts predict that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were issued a dividend of $0.28 per share. The ex-dividend date was Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a yield of 10.03%. Organon & Co.’s dividend payout ratio is presently 33.63%.

Analysts Set New Price Targets

OGN has been the subject of a number of recent research reports. TD Cowen upgraded Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Morgan Stanley cut their target price on shares of Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Barclays decreased their price target on shares of 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.60.

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.