Douglas Lane & Associates LLC Boosts Holdings in Organon & Co. $OGN

Douglas Lane & Associates LLC boosted its holdings in shares of Organon & Co. (NYSE:OGN) by 40.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 443,876 shares of the company’s stock after purchasing an additional 127,924 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.17% of Organon & Co. worth $4,741,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. State Street Corp grew its stake in Organon & Co. by 6.0% during the 2nd quarter. State Street Corp now owns 9,520,594 shares of the company’s stock worth $92,159,000 after buying an additional 540,478 shares during the last quarter. Nordea Investment Management AB lifted its position in Organon & Co. by 1.1% in the second quarter. Nordea Investment Management AB now owns 4,904,076 shares of the company’s stock worth $48,281,000 after purchasing an additional 53,733 shares during the period. AQR Capital Management LLC boosted its stake in Organon & Co. by 136.1% during the second quarter. AQR Capital Management LLC now owns 3,254,884 shares of the company’s stock valued at $31,507,000 after buying an additional 1,876,264 shares in the last quarter. Private Management Group Inc. boosted its position in shares of Organon & Co. by 46.4% during the 2nd quarter. Private Management Group Inc. now owns 3,135,960 shares of the company’s stock valued at $30,356,000 after purchasing an additional 993,950 shares in the last quarter. Finally, Brandywine Global Investment Management LLC grew its position in Organon & Co. by 58.7% in the second quarter. Brandywine Global Investment Management LLC now owns 2,262,626 shares of the company’s stock worth $21,902,000 after buying an additional 837,201 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on OGN. Weiss Ratings reissued a “sell (d+)” rating on shares of Organon & Co. in a research note on Wednesday, October 8th. Piper Sandler downgraded shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research report on Monday, October 27th. Barclays started coverage on shares of Organon & Co. in a report on Tuesday, December 9th. They issued an “underweight” rating and a $7.50 target price on the stock. JPMorgan Chase & Co. cut their price target on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, November 11th. Finally, Morgan Stanley cut their price objective on shares of Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Organon & Co. presently has a consensus rating of “Reduce” and an average price target of $8.38.

Organon & Co. Price Performance

Shares of OGN stock opened at $6.83 on Monday. Organon & Co. has a 52-week low of $6.18 and a 52-week high of $17.23. The stock has a market cap of $1.78 billion, a PE ratio of 3.56, a PEG ratio of 1.46 and a beta of 0.57. The company has a debt-to-equity ratio of 9.69, a quick ratio of 1.20 and a current ratio of 1.75. The firm’s 50 day moving average price is $7.59 and its two-hundred day moving average price is $9.08.

Organon & Co. (NYSE:OGN) last posted its earnings results on Monday, November 10th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.08. Organon & Co. had a return on equity of 143.47% and a net margin of 7.95%.The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the company earned $1.38 EPS. As a group, analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 20th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, November 20th. Organon & Co.’s dividend payout ratio is presently 4.17%.

Organon & Co. Profile

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.