Crossmark Global Holdings Inc. Sells 3,458 Shares of Organon & Co. (NYSE:OGN)

Crossmark Global Holdings Inc. cut its holdings in Organon & Co. (NYSE:OGN) by 20.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,446 shares of the company’s stock after selling 3,458 shares during the period. Crossmark Global Holdings Inc.’s holdings in Organon & Co. were worth $200,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp lifted its position in Organon & Co. by 1,795.8% during the fourth quarter. Jones Financial Companies Lllp now owns 4,550 shares of the company’s stock valued at $68,000 after acquiring an additional 4,310 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Organon & Co. by 20.7% in the 4th quarter. Victory Capital Management Inc. now owns 221,278 shares of the company’s stock valued at $3,301,000 after buying an additional 37,980 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Organon & Co. in the 4th quarter valued at about $394,000. Raymond James Financial Inc. purchased a new stake in Organon & Co. during the fourth quarter worth $4,194,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Organon & Co. by 14.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 63,269 shares of the company’s stock worth $944,000 after buying an additional 7,763 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Organon & Co. Stock Down 1.2%

Shares of Organon & Co. stock opened at $9.83 on Tuesday. Organon & Co. has a 52-week low of $8.01 and a 52-week high of $23.10. The company has a 50 day moving average of $9.47 and a 200 day moving average of $12.64. The company has a quick ratio of 1.15, a current ratio of 1.67 and a debt-to-equity ratio of 16.49. The company has a market capitalization of $2.55 billion, a P/E ratio of 3.41, a P/E/G ratio of 1.02 and a beta of 0.60.

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

Organon & Co. Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were paid a $0.02 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.08 annualized dividend and a yield of 0.81%. Organon & Co.’s dividend payout ratio is currently 2.78%.

Insider Activity

In other Organon & Co. news, CFO Matthew M. Walsh acquired 11,400 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average cost of $8.82 per share, for a total transaction of $100,548.00. Following the transaction, the chief financial officer directly owned 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 Securities & Exchange Commission, which is available through this link. 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. Over the last quarter, insiders purchased 102,345 shares of company stock valued at $902,430. 1.40% 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.