American Century Companies Inc. Raises Position in Organon & Co. (NYSE:OGN)

American Century Companies Inc. lifted its holdings in Organon & Co. (NYSE:OGN) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,948 shares of the company’s stock after purchasing an additional 1,777 shares during the quarter. American Century Companies Inc.’s holdings in Organon & Co. were worth $641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its stake in Organon & Co. by 94,482.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company’s stock valued at $166,391,000 after buying an additional 11,140,388 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Organon & Co. by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,248,108 shares of the company’s stock valued at $81,288,000 after purchasing an additional 82,220 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Organon & Co. by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,333,703 shares of the company’s stock valued at $49,739,000 after purchasing an additional 10,652 shares during the last quarter. Private Management Group Inc. boosted its stake in Organon & Co. by 11.9% in the 4th quarter. Private Management Group Inc. now owns 2,119,288 shares of the company’s stock worth $31,620,000 after purchasing an additional 225,420 shares in the last quarter. Finally, Magnetar Financial LLC grew its position in Organon & Co. by 560.2% during the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company’s stock worth $25,878,000 after purchasing an additional 1,471,731 shares during the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Performance

NYSE OGN opened at $11.17 on Friday. Organon & Co. has a fifty-two week low of $10.94 and a fifty-two week high of $23.10. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The firm has a market capitalization of $2.88 billion, a P/E ratio of 3.35, a PEG ratio of 0.90 and a beta of 0.73. The stock has a 50-day simple moving average of $14.64 and a two-hundred day simple moving average of $15.67.

Organon & Co. (NYSE:OGN) last announced its quarterly 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 net margin of 13.49% and a return on equity of 431.62%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.57 billion. On average, equities analysts forecast that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 10.03%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is presently 33.63%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OGN shares. Morgan Stanley decreased their price target on shares of Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday. Barclays cut their target price on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Finally, TD Cowen raised Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.60.

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.