Mirae Asset Global Investments Co. Ltd. Acquires Shares of 4,167 Organon & Co. (NYSE:OGN)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Organon & Co. (NYSE:OGN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,167 shares of the company’s stock, valued at approximately $60,000.

Other institutional investors also recently bought and sold shares of the company. Treasurer of the State of North Carolina grew its position in Organon & Co. by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 113,120 shares of the company’s stock valued at $1,688,000 after buying an additional 710 shares during the last quarter. HighTower Advisors LLC grew its position in 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 buying an additional 855 shares during the last quarter. Rafferty Asset Management LLC grew its position in 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 buying an additional 1,194 shares during the last quarter. Handelsbanken Fonder AB grew its position in Organon & Co. by 1.5% in the 1st quarter. Handelsbanken Fonder AB now owns 81,565 shares of the company’s stock valued at $1,215,000 after buying an additional 1,200 shares during the last quarter. Finally, Freedom Investment Management Inc. grew its position in Organon & Co. by 12.0% in the 4th quarter. Freedom Investment Management Inc. now owns 11,344 shares of the company’s stock valued at $169,000 after buying an additional 1,218 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Price Performance

Shares of NYSE OGN opened at $10.08 on Monday. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 3.50, a PEG ratio of 1.02 and a beta of 0.60. Organon & Co. has a 52 week low of $8.01 and a 52 week high of $23.10. The company’s 50-day moving average price is $9.61 and its 200 day moving average price is $12.85. The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 16.49.

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

Organon & Co. Cuts Dividend

The company 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. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.79%. Organon & Co.’s dividend payout ratio (DPR) is 2.78%.

Insider Activity

In other news, CFO Matthew M. Walsh bought 11,400 shares of Organon & Co. stock in a transaction 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 acquisition, the chief financial officer owned 144,484 shares in the company, valued at approximately $1,274,348.88. This trade represents a 8.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Daniel Karp bought 3,500 shares of Organon & Co. stock in a transaction 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 acquisition, the vice president owned 46,669 shares in the company, valued at $384,552.56. This represents a 8.11% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 102,345 shares of company stock valued at $902,430 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

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