Legal & General Group Plc Sells 23,271 Shares of Organon & Co. (NYSE:OGN)

Legal & General Group Plc lowered its position in Organon & Co. (NYSE:OGN) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 798,917 shares of the company’s stock after selling 23,271 shares during the period. Legal & General Group Plc’s holdings in Organon & Co. were worth $11,920,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGN. Barclays PLC increased its stake in shares of Organon & Co. by 238.0% during the 3rd quarter. Barclays PLC now owns 119,483 shares of the company’s stock worth $2,285,000 after purchasing an additional 84,136 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in Organon & Co. in the fourth quarter worth $2,263,000. Wedmont Private Capital increased its position in Organon & Co. by 453.4% during the fourth quarter. Wedmont Private Capital now owns 100,539 shares of the company’s stock worth $1,594,000 after buying an additional 82,372 shares during the last quarter. Sippican Capital Advisors increased its position in Organon & Co. by 138.7% during the fourth quarter. Sippican Capital Advisors now owns 36,352 shares of the company’s stock worth $542,000 after buying an additional 21,122 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Organon & Co. by 2.0% during 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. Institutional investors own 77.43% of the company’s stock.

Wall Street Analysts Forecast Growth

OGN has been the subject of several recent analyst reports. TD Cowen upgraded Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Morgan Stanley decreased their target price on Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Finally, Barclays dropped 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 issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Organon & Co. has a consensus rating of “Hold” and a consensus price target of $20.60.

Organon & Co. Price Performance

NYSE OGN opened at $10.83 on Thursday. The stock has a 50-day simple moving average of $14.40 and a 200 day simple moving average of $15.52. Organon & Co. has a twelve month low of $10.75 and a twelve month high of $23.10. The stock has a market capitalization of $2.79 billion, a PE ratio of 3.25, a P/E/G ratio of 0.90 and a beta of 0.73. 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. (NYSE:OGN) last posted 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 net margin of 13.49% and a return on equity of 431.62%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.57 billion. Research analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were given a $0.28 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.12 annualized dividend and a yield of 10.34%. Organon & Co.’s dividend 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.