M&T Bank Corp Has $833,000 Position in Organon & Co. (NYSE:OGN)

M&T Bank Corp lifted its holdings in shares of Organon & Co. (NYSE:OGN) by 3.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,990 shares of the company’s stock after buying an additional 1,854 shares during the period. M&T Bank Corp’s holdings in Organon & Co. were worth $833,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of OGN. Millstone Evans Group LLC acquired a new position in Organon & Co. during the fourth quarter valued at approximately $29,000. GeoWealth Management LLC acquired a new stake in shares of Organon & Co. in the 4th quarter valued at approximately $41,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Organon & Co. in the first quarter valued at $60,000. Jones Financial Companies Lllp increased its holdings 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 worth $68,000 after buying an additional 4,310 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Organon & Co. by 186.9% during the first quarter. GAMMA Investing LLC now owns 4,611 shares of the company’s stock worth $69,000 after acquiring an additional 3,004 shares in the last quarter. Institutional investors own 77.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of 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 for the company in a research report on Thursday, May 15th. Evercore ISI cut Organon & Co. from an “outperform” rating to an “inline” rating in a report on Friday, May 2nd. BNP Paribas upgraded Organon & Co. to a “strong-buy” rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley cut their price objective on 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. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.00.

Organon & Co. Stock Down 1.2%

Shares of OGN opened at $9.83 on Tuesday. The firm has a market cap of $2.55 billion, a P/E ratio of 3.41, a price-to-earnings-growth ratio of 1.02 and a beta of 0.60. The company has a debt-to-equity ratio of 16.49, a quick ratio of 1.15 and a current ratio of 1.67. Organon & Co. has a 52 week low of $8.01 and a 52 week high of $23.10. The firm’s 50-day simple moving average is $9.47 and its 200 day simple moving average is $12.64.

Organon & Co. (NYSE:OGN) last posted its earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.89 by $0.13. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. Organon & Co. had a return on equity of 227.43% and a net margin of 11.92%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. 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 declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid a $0.02 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.81%. Organon & Co.’s dividend payout ratio (DPR) is presently 2.78%.

Insider Buying and Selling at Organon & Co.

In other Organon & Co. news, CEO Kevin Ali acquired 34,000 shares of the business’s stock in a transaction on Monday, May 5th. The stock was purchased at an average price of $8.80 per share, with a total value of $299,200.00. Following the acquisition, the chief executive officer directly owned 282,731 shares of the company’s stock, valued at approximately $2,488,032.80. This trade represents a 13.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kirke Weaver bought 8,045 shares of the stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average cost of $9.21 per share, for a total transaction of $74,094.45. Following the completion of the acquisition, the insider directly owned 52,489 shares of the company’s stock, valued at approximately $483,423.69. This trade represents 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 valued at $902,430 in the last three months. 1.40% of the stock is owned by insiders.

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.