BNP Paribas Financial Markets Purchases Shares of 163,713 Organon & Co. (NYSE:OGN)

BNP Paribas Financial Markets purchased a new stake in shares of Organon & Co. (NYSE:OGN - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 163,713 shares of the company's stock, valued at approximately $2,443,000. BNP Paribas Financial Markets owned approximately 0.06% of Organon & Co. as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of OGN. Pacer Advisors Inc. boosted its stake in shares of Organon & Co. by 94,482.1% during the 4th 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 position in Organon & Co. during the 4th quarter valued at about $25,258,000. Magnetar Financial LLC grew its position in Organon & Co. by 560.2% during the fourth quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company's stock valued at $25,878,000 after purchasing an additional 1,471,731 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Organon & Co. by 23.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,284,408 shares of the company's stock worth $48,999,000 after acquiring an additional 629,191 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Organon & Co. by 44.6% in the fourth quarter. Invesco Ltd. now owns 2,034,780 shares of the company's stock valued at $30,359,000 after purchasing an additional 627,944 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on OGN shares. Piper Sandler cut their price target 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. Morgan Stanley dropped their price target on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Evercore ISI cut shares of Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday, May 2nd. Finally, Barclays lowered their target price on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Organon & Co. currently has a consensus rating of "Hold" and an average price target of $18.00.

Organon & Co. Stock Performance

OGN stock traded down $0.02 during midday trading on Thursday, hitting $8.42. 485,013 shares of the company traded hands, compared to its average volume of 3,190,640. Organon & Co. has a twelve month low of $8.01 and a twelve month high of $23.10. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 2.53, a price-to-earnings-growth ratio of 0.90 and a beta of 0.75. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The business has a 50 day simple moving average of $11.83 and a 200-day simple moving average of $14.16.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.13. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.53 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The firm's revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 earnings per share. As a group, equities research analysts predict that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.95%. Organon & Co.'s payout ratio is 2.78%.

Insider Buying and Selling

In related news, VP Daniel Karp bought 3,500 shares of Organon & Co. stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average price of $8.24 per share, for a total transaction of $28,840.00. Following the completion of the purchase, the vice president now owns 46,669 shares in the company, valued at approximately $384,552.56. This represents a 8.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kirke Weaver purchased 8,045 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average price of $9.21 per share, for a total transaction of $74,094.45. Following the completion of the purchase, the insider now directly owns 52,489 shares of the company's stock, valued at approximately $483,423.69. This trade represents a 18.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 102,345 shares of company stock valued at $902,430. 1.96% of the stock is owned by company insiders.

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.