SG Americas Securities LLC Invests $829,000 in Organon & Co. (NYSE:OGN)

SG Americas Securities LLC purchased a new position in shares of Organon & Co. (NYSE:OGN) in the first quarter, according to its most recent filing with the SEC. The firm purchased 55,670 shares of the company’s stock, valued at approximately $829,000.

Several other institutional investors have also recently added to or reduced their stakes in OGN. Millstone Evans Group LLC acquired a new position in Organon & Co. during the 4th quarter worth approximately $29,000. Larson Financial Group LLC grew its holdings in shares of Organon & Co. by 345.4% in the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after acquiring an additional 1,734 shares in the last quarter. Riverview Trust Co grew its holdings in Organon & Co. by 117.7% during the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock valued at $36,000 after purchasing an additional 1,292 shares during the period. GeoWealth Management LLC bought a new position in Organon & Co. during the fourth quarter valued at $41,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Organon & Co. by 1,795.8% during the fourth quarter. Jones Financial Companies Lllp now owns 4,550 shares of the company’s stock worth $68,000 after acquiring an additional 4,310 shares in the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Trading Up 0.4%

NYSE OGN opened at $9.89 on Friday. The stock has a market cap of $2.57 billion, a P/E ratio of 3.43, a price-to-earnings-growth ratio of 1.03 and a beta of 0.58. The company has a debt-to-equity ratio of 16.49, a quick ratio of 1.15 and a current ratio of 1.67. The stock has a 50 day simple moving average of $9.91 and a two-hundred day simple moving average of $13.27. Organon & Co. has a fifty-two week low of $8.01 and a fifty-two week high of $23.10.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data 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 return on equity of 227.43% and a net margin of 11.92%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the company earned $1.22 EPS. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, analysts forecast 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 was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend was Monday, May 12th. Organon & Co.’s payout ratio is 2.78%.

Insider Buying and Selling

In other news, CFO Matthew M. Walsh bought 11,400 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were bought at an average cost of $8.82 per share, for a total transaction of $100,548.00. Following the completion of the transaction, the chief financial officer now owns 144,484 shares of the company’s stock, valued at approximately $1,274,348.88. This represents a 8.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Daniel Karp bought 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average price of $8.24 per share, for a total transaction 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 $384,552.56. This represents a 8.11% increase in their position. The disclosure for this purchase can be found here. Insiders bought 102,345 shares of company stock valued at $902,430 over the last 90 days. Company insiders own 1.96% of the company’s stock.

Analysts Set New Price Targets

OGN has been the topic of a number of recent analyst reports. Evercore ISI downgraded Organon & Co. from an “outperform” rating to an “inline” rating in a research report on Friday, May 2nd. Piper Sandler reduced their price objective on Organon & Co. from $24.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, May 15th. BNP Paribas upgraded Organon & Co. to a “strong-buy” rating in a report on Thursday, May 22nd. Finally, Morgan Stanley dropped their target price on Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Organon & Co. 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.