Allworth Financial LP Boosts Stake in Organon & Co. (NYSE:OGN)

Allworth Financial LP grew its stake in Organon & Co. (NYSE:OGN) by 68.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,136 shares of the company’s stock after buying an additional 1,278 shares during the period. Allworth Financial LP’s holdings in Organon & Co. were worth $45,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Kahn Brothers Group Inc. raised its holdings in shares of Organon & Co. by 0.6% in the fourth quarter. Kahn Brothers Group Inc. now owns 62,634 shares of the company’s stock worth $1,749,000 after buying an additional 366 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Organon & Co. by 5.2% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,114 shares of the company’s stock worth $213,000 after buying an additional 449 shares during the last quarter. Fairfield Bush & CO. raised its holdings in shares of Organon & Co. by 3.0% during the first 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. Cresset Asset Management LLC raised its holdings in shares of Organon & Co. by 3.7% during the first quarter. Cresset Asset Management LLC now owns 13,969 shares of the company’s stock worth $488,000 after purchasing an additional 493 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in Organon & Co. by 0.7% during the first quarter. Capital Research Global Investors now owns 71,903 shares of the company’s stock valued at $2,512,000 after purchasing an additional 513 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Analyst Ratings Changes

Separately, The Goldman Sachs Group boosted their target price on shares of Organon & Co. from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, February 20th.

Organon & Co. Price Performance

NYSE OGN opened at $17.45 on Friday. The company has a market capitalization of $4.46 billion, a PE ratio of 4.36, a P/E/G ratio of 0.86 and a beta of 0.83. The company has a fifty day moving average of $17.88 and a 200 day moving average of $15.59. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $24.79.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. Organon & Co. had a net margin of 16.33% and a negative return on equity of 212.00%. Research analysts expect that Organon & Co. will post 4.08 earnings per share for the current year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, February 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.42%. Organon & Co.’s dividend payout ratio (DPR) is currently 28.00%.

Insiders Place Their Bets

In other news, insider Kirke Weaver acquired 2,720 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was acquired at an average price of $18.36 per share, for a total transaction of $49,939.20. Following the completion of the transaction, the insider now owns 15,181 shares in the company, valued at approximately $278,723.16. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.17% of the company’s stock.

Organon & Co. Company Profile

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.