abrdn plc Purchases 3,840 Shares of Organon & Co. (NYSE:OGN)

abrdn plc increased its position in Organon & Co. (NYSE:OGN – Get Rating) by 6.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,719 shares of the company’s stock after acquiring an additional 3,840 shares during the quarter. abrdn plc’s holdings in Organon & Co. were worth $1,752,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Fairfield Bush & CO. grew its position in Organon & Co. by 3.0% in the 1st quarter. Fairfield Bush & CO. now owns 16,302 shares of the company’s stock worth $569,000 after purchasing an additional 481 shares during the last quarter. Natixis Advisors L.P. grew its position in Organon & Co. by 52.5% in the 1st quarter. Natixis Advisors L.P. now owns 50,428 shares of the company’s stock worth $1,761,000 after purchasing an additional 17,370 shares during the last quarter. MetLife Investment Management LLC grew its position in Organon & Co. by 23.2% in the 1st quarter. MetLife Investment Management LLC now owns 68,987 shares of the company’s stock worth $2,410,000 after purchasing an additional 12,969 shares during the last quarter. Panagora Asset Management Inc. grew its position in Organon & Co. by 95.6% in the 1st quarter. Panagora Asset Management Inc. now owns 39,595 shares of the company’s stock worth $1,383,000 after purchasing an additional 19,352 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Organon & Co. by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,926 shares of the company’s stock worth $1,185,000 after purchasing an additional 2,101 shares during the last quarter. Institutional investors own 75.74% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Raymond James initiated coverage on shares of Organon & Co. in a research report on Wednesday, March 15th. They issued an “outperform” rating and a $33.00 price target on the stock.

Organon & Co. Stock Performance

Shares of Organon & Co. stock opened at $20.12 on Thursday. The firm’s 50-day simple moving average is $22.64 and its 200-day simple moving average is $25.62. Organon & Co. has a twelve month low of $19.87 and a twelve month high of $39.09. The firm has a market cap of $5.13 billion, a P/E ratio of 6.89, a price-to-earnings-growth ratio of 0.89 and a beta of 0.77.

Organon & Co. (NYSE:OGN – Get Rating) last issued its earnings results on Thursday, May 4th. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.10). Organon & Co. had a net margin of 12.14% and a negative return on equity of 119.00%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the firm posted $1.65 earnings per share. Organon & Co.’s revenue was down 1.9% on a year-over-year basis. On average, equities analysts forecast that Organon & Co. will post 4.22 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, May 15th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, May 12th. This represents a $1.12 annualized dividend and a yield of 5.57%. Organon & Co.’s dividend payout ratio is 38.36%.

About Organon & Co.

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Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.