Organon & Co. (NYSE:OGN) Stock Position Boosted by Advent Capital Management DE

Advent Capital Management DE increased its holdings in Organon & Co. (NYSE:OGN - Free Report) by 60.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 200,000 shares of the company's stock after purchasing an additional 75,000 shares during the quarter. Advent Capital Management DE owned 0.08% of Organon & Co. worth $2,984,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its holdings in Organon & Co. by 94,482.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock worth $166,391,000 after acquiring an additional 11,140,388 shares in the last quarter. Norges Bank purchased a new stake in Organon & Co. in the fourth quarter worth about $25,258,000. Magnetar Financial LLC increased its holdings in Organon & Co. by 560.2% in the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company's stock worth $25,878,000 after acquiring an additional 1,471,731 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Organon & Co. by 44.6% during the 4th quarter. Invesco Ltd. now owns 2,034,780 shares of the company's stock valued at $30,359,000 after buying an additional 627,944 shares in the last quarter. Finally, Brandywine Global Investment Management LLC grew its holdings in Organon & Co. by 34.6% during the 4th quarter. Brandywine Global Investment Management LLC now owns 2,029,923 shares of the company's stock valued at $30,286,000 after buying an additional 521,847 shares in the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on OGN shares. TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. Barclays dropped their target price on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Finally, Morgan Stanley cut their price objective on shares of Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Organon & Co. has a consensus rating of "Hold" and a consensus price target of $20.60.

Organon & Co. Price Performance

Shares of OGN stock traded down $0.54 during midday trading on Monday, reaching $10.58. 1,537,140 shares of the company traded hands, compared to its average volume of 3,464,063. The firm has a market cap of $2.73 billion, a PE ratio of 3.18, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73. Organon & Co. has a 1-year low of $10.57 and a 1-year high of $23.10. The firm's 50 day simple moving average is $14.25 and its two-hundred day simple moving average is $15.37. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.09). The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.57 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. On average, equities research analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 10.59%. The ex-dividend date was Monday, February 24th. Organon & Co.'s dividend payout ratio is presently 33.63%.

About Organon & Co.

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.