SP Asset Management LLC Boosts Stock Position in Organon & Co. (NYSE:OGN)

SP Asset Management LLC increased its position in Organon & Co. (NYSE:OGN) by 11.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,228 shares of the company’s stock after purchasing an additional 4,945 shares during the period. SP Asset Management LLC’s holdings in Organon & Co. were worth $720,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Commerce Bank increased its holdings in shares of Organon & Co. by 5.5% in the third quarter. Commerce Bank now owns 12,168 shares of the company’s stock worth $233,000 after purchasing an additional 637 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Organon & Co. by 32.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock worth $41,000 after purchasing an additional 672 shares during the last quarter. Graypoint LLC increased its holdings in shares of Organon & Co. by 6.2% in the third quarter. Graypoint LLC now owns 14,555 shares of the company’s stock worth $278,000 after purchasing an additional 853 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Organon & Co. by 4.9% in the fourth quarter. CIBC Asset Management Inc now owns 25,523 shares of the company’s stock valued at $381,000 after purchasing an additional 1,184 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators grew its holdings in shares of Organon & Co. by 24.3% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 6,256 shares of the company’s stock valued at $93,000 after purchasing an additional 1,222 shares in the last quarter. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Price Performance

Shares of OGN stock opened at $14.45 on Thursday. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. The company has a market capitalization of $3.72 billion, a P/E ratio of 4.34, a P/E/G ratio of 0.90 and a beta of 0.76. The company’s 50-day simple moving average is $15.42 and its two-hundred day simple moving average is $16.99. Organon & Co. has a one year low of $13.87 and a one year high of $23.10.

Organon & Co. (NYSE:OGN) last issued its earnings results 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 return on equity of 431.62% and a net margin of 13.49%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. As a group, equities analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Monday, February 24th will be issued a $0.28 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.12 annualized dividend and a dividend yield of 7.75%. Organon & Co.’s dividend payout ratio is currently 33.63%.

Analysts Set New Price Targets

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

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.