Organon & Co. (NYSE:OGN) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC decreased its position in Organon & Co. (NYSE:OGN) by 4.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,605 shares of the company’s stock after selling 1,792 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Organon & Co. were worth $530,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Organon & Co. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,401,709 shares of the company’s stock worth $453,593,000 after buying an additional 218,165 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Organon & Co. by 1.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,895,067 shares of the company’s stock valued at $147,634,000 after acquiring an additional 136,760 shares during the last quarter. LSV Asset Management grew its holdings in shares of Organon & Co. by 0.4% in the fourth quarter. LSV Asset Management now owns 7,525,076 shares of the company’s stock valued at $112,274,000 after purchasing an additional 30,557 shares during the period. Deprince Race & Zollo Inc. grew its holdings in shares of Organon & Co. by 7.0% in the fourth quarter. Deprince Race & Zollo Inc. now owns 4,729,258 shares of the company’s stock valued at $70,561,000 after purchasing an additional 308,267 shares during the period. Finally, Geode Capital Management LLC increased its position in Organon & Co. by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,260,218 shares of the company’s stock worth $63,582,000 after purchasing an additional 12,110 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on OGN. Piper Sandler decreased their price objective on shares of Organon & Co. from $24.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, May 15th. Morgan Stanley decreased their price target 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. Evercore ISI cut Organon & Co. from an “outperform” rating to an “inline” rating in a research note on Friday, May 2nd. Finally, BNP Paribas upgraded Organon & Co. to a “strong-buy” rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Organon & Co. Stock Down 0.7%

OGN opened at $10.08 on Friday. The firm has a market cap of $2.62 billion, a P/E ratio of 3.50, a PEG ratio of 1.04 and a beta of 0.60. The business’s fifty day simple moving average is $9.61 and its 200 day simple moving average is $12.86. Organon & Co. has a 52 week low of $8.01 and a 52 week high of $23.10. The company has a quick ratio of 1.15, a current ratio of 1.67 and a debt-to-equity ratio of 16.49.

Organon & Co. (NYSE:OGN) last released its earnings results on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm earned $1.22 earnings per share. Organon & Co.’s revenue was down 6.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Monday, May 12th. Organon & Co.’s dividend payout ratio (DPR) is currently 2.78%.

Insider Activity at Organon & Co.

In other news, VP Daniel Karp bought 3,500 shares of Organon & Co. stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $8.24 per share, with a total value of $28,840.00. Following the acquisition, the vice president directly owned 46,669 shares in the company, valued at approximately $384,552.56. This represents a 8.11% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kirke Weaver purchased 8,045 shares of the stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average price of $9.21 per share, with a total value of $74,094.45. Following the transaction, the insider directly owned 52,489 shares of the company’s stock, valued at approximately $483,423.69. The trade was a 18.10% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 102,345 shares of company stock worth $902,430 over the last three months. 1.96% of the stock is owned by corporate insiders.

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.