Organon & Co. (NYSE:OGN) Shares Acquired by Ballentine Partners LLC

Ballentine Partners LLC lifted its holdings in shares of Organon & Co. (NYSE:OGN) by 22.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,935 shares of the company’s stock after buying an additional 3,780 shares during the period. Ballentine Partners LLC’s holdings in Organon & Co. were worth $312,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Organon & Co. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,401,709 shares of the company’s stock worth $453,593,000 after buying an additional 218,165 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Organon & Co. by 1.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,895,067 shares of the company’s stock worth $147,634,000 after buying an additional 136,760 shares during the period. LSV Asset Management boosted its stake in shares of Organon & Co. by 0.4% during the fourth quarter. LSV Asset Management now owns 7,525,076 shares of the company’s stock worth $112,274,000 after buying an additional 30,557 shares during the period. Deprince Race & Zollo Inc. boosted its stake in shares of Organon & Co. by 7.0% during the fourth quarter. Deprince Race & Zollo Inc. now owns 4,729,258 shares of the company’s stock worth $70,561,000 after buying an additional 308,267 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Organon & Co. by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,260,218 shares of the company’s stock worth $63,582,000 after buying an additional 12,110 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

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

Organon & Co. Trading Down 2.4%

Shares of Organon & Co. stock opened at $9.58 on Wednesday. Organon & Co. has a 12-month low of $8.01 and a 12-month high of $23.10. The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 16.49. The stock has a market cap of $2.49 billion, a PE ratio of 3.32, a price-to-earnings-growth ratio of 1.02 and a beta of 0.60. The company has a 50-day moving average of $9.48 and a two-hundred day moving average of $12.62.

Organon & Co. (NYSE:OGN) last issued 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 net margin of 11.92% and a return on equity of 227.43%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the company posted $1.22 earnings per share. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. On average, research analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Cuts Dividend

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

Insider Transactions at Organon & Co.

In other Organon & Co. news, CEO Kevin Ali acquired 34,000 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was acquired at an average cost of $8.80 per share, with a total value of $299,200.00. Following the purchase, the chief executive officer directly owned 282,731 shares in the company, valued at approximately $2,488,032.80. This trade represents a 13.67% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, VP Daniel Karp bought 3,500 shares of the stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $8.24 per share, with a total value of $28,840.00. Following the completion of the purchase, the vice president directly owned 46,669 shares in the company, valued at $384,552.56. This trade represents a 8.11% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 102,345 shares of company stock worth $902,430. Corporate insiders own 1.40% of the company’s stock.

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.