Deutsche Bank AG Cuts Position in Organon & Co. (NYSE:OGN)

Deutsche Bank AG lowered its stake in Organon & Co. (NYSE:OGN) by 21.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 128,092 shares of the company’s stock after selling 35,745 shares during the quarter. Deutsche Bank AG’s holdings in Organon & Co. were worth $1,911,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings 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 purchasing an additional 11,140,388 shares during the last quarter. Norges Bank purchased a new stake in Organon & Co. during the 4th quarter worth approximately $25,258,000. Magnetar Financial LLC raised its position in shares of Organon & Co. by 560.2% in the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company’s stock valued at $25,878,000 after purchasing an additional 1,471,731 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Organon & Co. by 23.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,284,408 shares of the company’s stock valued at $48,999,000 after purchasing an additional 629,191 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Organon & Co. by 44.6% during the 4th quarter. Invesco Ltd. now owns 2,034,780 shares of the company’s stock valued at $30,359,000 after buying an additional 627,944 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Performance

Shares of NYSE:OGN opened at $8.69 on Friday. Organon & Co. has a fifty-two week low of $8.01 and a fifty-two week high of $23.10. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The company has a market cap of $2.26 billion, a PE ratio of 2.61, a P/E/G ratio of 0.90 and a beta of 0.75. The company’s 50-day moving average price is $11.55 and its 200 day moving average price is $14.05.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the company earned $1.22 EPS. Organon & Co.’s revenue was down 6.7% on a year-over-year basis. Sell-side analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.02 per share. The ex-dividend date is Monday, May 12th. This represents a $0.08 annualized dividend and a yield of 0.92%. Organon & Co.’s dividend payout ratio (DPR) is presently 2.78%.

Analyst Ratings Changes

OGN has been the subject of a number of research analyst reports. Piper Sandler dropped their price target on shares of Organon & Co. from $24.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, May 15th. Evercore ISI lowered shares of Organon & Co. from an “outperform” rating to an “inline” rating in a research note on Friday, May 2nd. Morgan Stanley reduced their price target on shares of Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, May 5th. Finally, Barclays cut their price objective on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.00.

Insider Buying and Selling at Organon & Co.

In other Organon & Co. news, insider Kirke Weaver purchased 8,045 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $9.21 per share, for a total transaction of $74,094.45. Following the acquisition, the insider now owns 52,489 shares of the company’s stock, valued at $483,423.69. This trade represents a 18.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew M. Walsh purchased 11,400 shares of Organon & Co. stock in a transaction on Monday, May 5th. The stock was bought at an average cost of $8.82 per share, with a total value of $100,548.00. Following the transaction, the chief financial officer now directly owns 144,484 shares of the company’s stock, valued at approximately $1,274,348.88. The trade was a 8.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 102,345 shares of company stock valued at $902,430 in the last quarter. Company insiders own 1.96% of the company’s stock.

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.