Bank of Montreal Can Reduces Holdings in Organon & Co. (NYSE:OGN)

Bank of Montreal Can cut its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 34.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,555 shares of the company's stock after selling 31,945 shares during the quarter. Bank of Montreal Can's holdings in Organon & Co. were worth $889,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of OGN. Pacer Advisors Inc. grew its position in shares of Organon & Co. by 94,482.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock valued at $166,391,000 after purchasing an additional 11,140,388 shares during the last quarter. Norges Bank purchased a new position in Organon & Co. during the fourth quarter worth $25,258,000. Magnetar Financial LLC raised its holdings in shares of Organon & Co. by 560.2% in the fourth 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 during the last quarter. Brandywine Global Investment Management LLC lifted its position in shares of Organon & Co. by 34.6% in the fourth quarter. Brandywine Global Investment Management LLC now owns 2,029,923 shares of the company's stock valued at $30,286,000 after acquiring an additional 521,847 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Organon & Co. by 191.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 760,807 shares of the company's stock valued at $11,382,000 after acquiring an additional 499,616 shares during the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OGN has been the topic of several recent analyst reports. Morgan Stanley reduced 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 research note on Wednesday, April 9th. Barclays reduced their price target on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Finally, TD Cowen raised 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $20.60.

Organon & Co. Trading Up 2.8 %

Shares of OGN traded up $0.32 during mid-day trading on Thursday, reaching $11.81. The company had a trading volume of 928,651 shares, compared to its average volume of 2,686,252. Organon & Co. has a fifty-two week low of $10.45 and a fifty-two week high of $23.10. The firm has a fifty day simple moving average of $13.99 and a 200-day simple moving average of $15.27. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 3.55, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.09). The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. On average, sell-side analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 9.48%. The ex-dividend date was Monday, February 24th. Organon & Co.'s payout ratio is 33.63%.

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.