Organon & Co. (NYSE:OGN) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its position in Organon & Co. (NYSE:OGN) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 581,171 shares of the company’s stock after selling 68,388 shares during the period. Prudential Financial Inc. owned 0.23% of Organon & Co. worth $8,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of OGN. MassMutual Private Wealth & Trust FSB raised its position in Organon & Co. by 32.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock valued at $41,000 after purchasing an additional 672 shares during the period. Beam Wealth Advisors Inc. raised its stake in shares of Organon & Co. by 3.9% in the fourth quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company’s stock valued at $282,000 after acquiring an additional 717 shares in the last quarter. HighTower Advisors LLC increased its holdings in Organon & Co. by 0.5% during the 4th quarter. HighTower Advisors LLC now owns 163,440 shares of the company’s stock worth $2,439,000 after purchasing an additional 855 shares during the period. CIBC Asset Management Inc raised its position in Organon & Co. by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 25,523 shares of the company’s stock valued at $381,000 after purchasing an additional 1,184 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators increased its stake in shares of Organon & Co. by 24.3% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 6,256 shares of the company’s stock worth $93,000 after buying an additional 1,222 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Price Performance

OGN stock opened at $14.52 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The company has a market capitalization of $3.74 billion, a P/E ratio of 4.36, a PEG ratio of 0.90 and a beta of 0.76. The business has a 50 day simple moving average of $15.33 and a 200-day simple moving average of $16.24. Organon & Co. has a twelve month low of $13.87 and a twelve month high of $23.10.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. As a group, equities analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 7.72%. The ex-dividend date was Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is presently 33.63%.

Analysts Set New Price Targets

OGN has been the subject of a number of research analyst reports. Morgan Stanley lowered their price target on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Barclays lowered their target price on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, TD Cowen raised shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.80.

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.