Organon & Co. (NYSE:OGN) Stock Position Cut by Bridgewater Associates LP

Bridgewater Associates LP reduced its position in Organon & Co. (NYSE:OGN - Free Report) by 91.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,047 shares of the company's stock after selling 185,149 shares during the quarter. Bridgewater Associates LP's holdings in Organon & Co. were worth $269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of OGN. Pacer Advisors Inc. increased its stake in Organon & Co. by 94,482.1% in the 4th quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock valued at $166,391,000 after buying an additional 11,140,388 shares during the period. Norges Bank acquired a new stake in Organon & Co. in the fourth quarter valued at $25,258,000. Magnetar Financial LLC grew its stake in Organon & Co. by 560.2% in the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company's stock valued at $25,878,000 after acquiring an additional 1,471,731 shares during the last quarter. Invesco Ltd. increased 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 worth $30,359,000 after purchasing an additional 627,944 shares in the last quarter. Finally, Brandywine Global Investment Management LLC increased its position in Organon & Co. by 34.6% during the fourth quarter. Brandywine Global Investment Management LLC now owns 2,029,923 shares of the company's stock worth $30,286,000 after buying an additional 521,847 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Stock Up 0.7 %

OGN stock traded up $0.09 during midday trading on Friday, hitting $12.21. 2,732,148 shares of the company's stock were exchanged, compared to its average volume of 2,713,752. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 3.67, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73. The firm has a 50 day moving average price of $13.86 and a 200-day moving average price of $15.18. 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. has a 12-month low of $10.45 and a 12-month high of $23.10.

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

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 9.17%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.'s payout ratio is 33.63%.

Analysts Set New Price Targets

OGN has been the subject of a number of recent research reports. Barclays lowered their price target 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. TD Cowen upgraded Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Finally, Morgan Stanley reduced their target price 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.60.

Organon & Co. Company 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.