Northern Trust Corp Grows Position in Organon & Co. $OGN

Northern Trust Corp increased its position in Organon & Co. (NYSE:OGN) by 7.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,056,416 shares of the company’s stock after purchasing an additional 142,301 shares during the quarter. Northern Trust Corp owned approximately 0.79% of Organon & Co. worth $30,620,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its stake in Organon & Co. by 8.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,715,445 shares of the company’s stock valued at $159,553,000 after buying an additional 820,378 shares during the last quarter. LSV Asset Management raised its stake in Organon & Co. by 6.1% during the first quarter. LSV Asset Management now owns 7,980,775 shares of the company’s stock valued at $118,834,000 after buying an additional 455,699 shares during the last quarter. Deprince Race & Zollo Inc. raised its stake in Organon & Co. by 7.0% during the fourth quarter. Deprince Race & Zollo Inc. now owns 4,729,258 shares of the company’s stock valued at $70,561,000 after buying an additional 308,267 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Organon & Co. by 23.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,284,408 shares of the company’s stock valued at $48,999,000 after buying an additional 629,191 shares during the last quarter. Finally, Private Management Group Inc. raised its stake in Organon & Co. by 1.1% during the first quarter. Private Management Group Inc. now owns 2,142,010 shares of the company’s stock valued at $31,895,000 after buying an additional 22,722 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Up 2.3%

Organon & Co. stock opened at $9.40 on Friday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 3.49, a PEG ratio of 0.86 and a beta of 0.60. The stock has a fifty day simple moving average of $9.61 and a two-hundred day simple moving average of $11.23. Organon & Co. has a 12 month low of $8.01 and a 12 month high of $22.67. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 11.98.

Organon & Co. (NYSE:OGN) last posted its earnings results on Tuesday, August 5th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.55 billion. Organon & Co. had a return on equity of 163.88% and a net margin of 11.15%.The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. Organon & Co. has set its FY 2025 guidance at EPS. Equities analysts predict that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have issued reports on the company. BNP Paribas upgraded Organon & Co. to a “strong-buy” rating in a research note on Thursday, May 22nd. Morgan Stanley lowered their price objective on Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, May 5th. Finally, Piper Sandler lowered their price objective on Organon & Co. from $24.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

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.