Nisa Investment Advisors LLC Raises Stock Holdings in Organon & Co. (NYSE:OGN)

Nisa Investment Advisors LLC grew its stake in Organon & Co. (NYSE:OGN) by 6.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,727 shares of the company’s stock after acquiring an additional 2,708 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Organon & Co. were worth $636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in OGN. Jones Financial Companies Lllp lifted its position in shares of Organon & Co. by 1,795.8% in the fourth quarter. Jones Financial Companies Lllp now owns 4,550 shares of the company’s stock valued at $68,000 after acquiring an additional 4,310 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Organon & Co. in the fourth quarter valued at $394,000. Raymond James Financial Inc. acquired a new position in Organon & Co. in the fourth quarter valued at $4,194,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Organon & Co. by 14.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,269 shares of the company’s stock valued at $944,000 after purchasing an additional 7,763 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in Organon & Co. by 0.5% in 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 during the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Performance

Shares of NYSE:OGN opened at $9.58 on Wednesday. The firm has a market capitalization of $2.49 billion, a PE ratio of 3.32, a P/E/G ratio of 1.02 and a beta of 0.60. The company has a debt-to-equity ratio of 16.49, a current ratio of 1.67 and a quick ratio of 1.15. The business has a 50-day moving average of $9.48 and a two-hundred day moving average of $12.62. Organon & Co. has a 12 month low of $8.01 and a 12 month high of $23.10.

Organon & Co. (NYSE:OGN) last posted its earnings results on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13. Organon & Co. had a return on equity of 227.43% and a net margin of 11.92%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, research analysts forecast that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were paid a $0.02 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.84%. Organon & Co.’s dividend payout ratio (DPR) is currently 2.78%.

Insider Buying and Selling

In related news, insider Kirke Weaver bought 8,045 shares of the stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average price of $9.21 per share, for a total transaction of $74,094.45. Following the completion of the purchase, the insider owned 52,489 shares in the company, valued at $483,423.69. This represents a 18.10% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daniel Karp bought 3,500 shares of the stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $8.24 per share, with a total value of $28,840.00. Following the purchase, the vice president owned 46,669 shares of the company’s stock, valued at approximately $384,552.56. This represents a 8.11% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 102,345 shares of company stock worth $902,430 in the last ninety days. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on OGN. BNP Paribas upgraded Organon & Co. to a “strong-buy” rating in a research note on Thursday, May 22nd. Piper Sandler dropped their target price on Organon & Co. from $24.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, May 15th. Evercore ISI lowered Organon & Co. from an “outperform” rating to an “inline” rating in a research note on Friday, May 2nd. Finally, Morgan Stanley dropped their price target on Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Organon & Co. has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Organon & Co. Company 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.