Cetera Investment Advisers Has $1.10 Million Holdings in Organon & Co. (NYSE:OGN)

Cetera Investment Advisers cut its holdings in Organon & Co. (NYSE:OGN) by 2.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,770 shares of the company’s stock after selling 2,235 shares during the period. Cetera Investment Advisers’ holdings in Organon & Co. were worth $1,098,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OGN. Wellington Management Group LLP raised its holdings in shares of Organon & Co. by 44.2% in the fourth quarter. Wellington Management Group LLP now owns 32,966 shares of the company’s stock valued at $492,000 after purchasing an additional 10,108 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Organon & Co. by 8.0% in the fourth quarter. Alliancebernstein L.P. now owns 149,769 shares of the company’s stock valued at $2,235,000 after buying an additional 11,075 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Organon & Co. by 28.6% in the fourth quarter. Wells Fargo & Company MN now owns 262,746 shares of the company’s stock valued at $3,920,000 after buying an additional 58,378 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Organon & Co. by 203.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 241,910 shares of the company’s stock valued at $3,609,000 after buying an additional 162,188 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Organon & Co. by 4.4% in the fourth quarter. Federated Hermes Inc. now owns 75,677 shares of the company’s stock valued at $1,129,000 after buying an additional 3,169 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on OGN shares. Morgan Stanley reduced 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. Piper Sandler reduced 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 shares of Organon & Co. from an “outperform” rating to an “inline” rating in a research report on Friday, May 2nd. Finally, BNP Paribas raised shares of Organon & Co. to a “strong-buy” rating in a research report on Thursday, May 22nd. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Organon & Co. has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Organon & Co. Trading Down 2.4%

OGN stock opened at $9.00 on Tuesday. The company has a debt-to-equity ratio of 11.98, a current ratio of 1.65 and a quick ratio of 1.13. The company has a fifty day moving average price of $9.76 and a two-hundred day moving average price of $11.79. Organon & Co. has a one year low of $8.01 and a one year high of $23.10. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 3.35, a price-to-earnings-growth ratio of 0.96 and a beta of 0.60.

Organon & Co. (NYSE:OGN) last announced its earnings results on Tuesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Organon & Co. had a net margin of 11.15% and a return on equity of 163.88%. Organon & Co.’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 earnings per share. Equities analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 15th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Organon & Co.’s payout ratio is presently 2.97%.

Organon & Co. Company 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.