Organon & Co. (NYSE:OGN) Stock Position Raised by NBC Securities Inc.

NBC Securities Inc. raised its position in shares of Organon & Co. (NYSE:OGN) by 111,262.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,909 shares of the company’s stock after purchasing an additional 8,901 shares during the period. NBC Securities Inc.’s holdings in Organon & Co. were worth $132,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Treasurer of the State of North Carolina raised its stake in shares of Organon & Co. by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 113,120 shares of the company’s stock worth $1,688,000 after purchasing an additional 710 shares in the last quarter. Beam Wealth Advisors Inc. raised its stake in shares of Organon & Co. by 3.9% during the 4th quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company’s stock worth $282,000 after purchasing an additional 717 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Organon & Co. by 0.5% in the 4th quarter. HighTower Advisors LLC now owns 163,440 shares of the company’s stock valued at $2,439,000 after acquiring an additional 855 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Organon & Co. by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 25,523 shares of the company’s stock valued at $381,000 after acquiring an additional 1,184 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its stake in shares of Organon & Co. by 5.6% in the 4th quarter. Rafferty Asset Management LLC now owns 22,627 shares of the company’s stock valued at $338,000 after acquiring an additional 1,194 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Evercore ISI downgraded Organon & Co. from an “outperform” rating to an “inline” rating in a research note on Friday, May 2nd. Piper Sandler cut their price objective on Organon & Co. from $24.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. 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. Morgan Stanley cut their price objective on Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. Finally, BNP Paribas raised Organon & Co. to a “strong-buy” rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Organon & Co. Trading Up 2.1%

Shares of OGN opened at $9.76 on Tuesday. The stock has a fifty day moving average price of $10.31 and a two-hundred day moving average price of $13.56. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. Organon & Co. has a 52-week low of $8.01 and a 52-week high of $23.10. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 2.93, a PEG ratio of 0.90 and a beta of 0.58.

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

Organon & Co. Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.82%. Organon & Co.’s dividend payout ratio is presently 2.78%.

Insider Buying and Selling at Organon & Co.

In other news, insider Kirke Weaver acquired 8,045 shares of Organon & Co. stock in a transaction dated Tuesday, May 6th. The stock was bought at an average cost of $9.21 per share, with a total value of $74,094.45. Following the completion of the transaction, the insider now directly owns 52,489 shares of the company’s stock, valued at approximately $483,423.69. This represents a 18.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Daniel Karp purchased 3,500 shares of Organon & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $8.24 per share, with a total value of $28,840.00. Following the completion of the transaction, the vice president now directly owns 46,669 shares of the company’s stock, valued at approximately $384,552.56. The trade was a 8.11% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 102,345 shares of company stock valued at $902,430. 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.