Envestnet Asset Management Inc. Has $4.51 Million Holdings in Organon & Co. (NYSE:OGN)

Envestnet Asset Management Inc. raised its position in shares of Organon & Co. (NYSE:OGN) by 25.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 303,138 shares of the company’s stock after purchasing an additional 61,228 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.12% of Organon & Co. worth $4,514,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GeoWealth Management LLC acquired a new stake in Organon & Co. during the 4th quarter valued at approximately $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Organon & Co. during the 1st quarter valued at approximately $60,000. GAMMA Investing LLC increased its position in Organon & Co. by 186.9% during the 1st quarter. GAMMA Investing LLC now owns 4,611 shares of the company’s stock valued at $69,000 after purchasing an additional 3,004 shares during the period. Cary Street Partners Financial LLC acquired a new stake in Organon & Co. during the 4th quarter valued at approximately $111,000. Finally, NBC Securities Inc. increased its position in Organon & Co. by 111,262.5% during the 1st quarter. NBC Securities Inc. now owns 8,909 shares of the company’s stock valued at $132,000 after purchasing an additional 8,901 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.

Insider Transactions at Organon & Co.

In other news, insider Kirke Weaver bought 8,045 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $9.21 per share, for a total transaction of $74,094.45. Following the acquisition, the insider directly owned 52,489 shares in the company, valued at approximately $483,423.69. This trade represents a 18.10% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin Ali bought 34,000 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average price of $8.80 per share, for a total transaction of $299,200.00. Following the completion of the acquisition, the chief executive officer owned 282,731 shares in the company, valued at $2,488,032.80. This represents a 13.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 102,345 shares of company stock valued at $902,430 in the last 90 days. 1.96% of the stock is currently owned by company insiders.

Organon & Co. Stock Up 1.0%

Organon & Co. stock opened at $10.18 on Friday. 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. has a 12-month low of $8.01 and a 12-month high of $23.10. The firm’s fifty day moving average is $9.66 and its 200 day moving average is $12.34. The company has a market capitalization of $2.65 billion, a PE ratio of 3.53, a PEG ratio of 1.05 and a beta of 0.60.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the business earned $1.22 EPS. Organon & Co.’s quarterly revenue was down 6.7% compared to the same quarter last year. As a group, sell-side analysts predict that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors 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 0.79%. The ex-dividend date of this dividend was Monday, May 12th. Organon & Co.’s dividend payout ratio is currently 2.78%.

Analyst Ratings Changes

A number of analysts have weighed in on OGN shares. BNP Paribas raised shares of Organon & Co. to a “strong-buy” rating in a research report on Thursday, May 22nd. Evercore ISI downgraded shares of Organon & Co. from an “outperform” rating to an “inline” rating in a research report on Friday, May 2nd. Piper Sandler dropped 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. Finally, Morgan Stanley dropped their target price 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. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.