Comerica Bank Sells 94,632 Shares of Organon & Co. (NYSE:OGN)

Comerica Bank lowered its position in Organon & Co. (NYSE:OGN - Free Report) by 45.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,735 shares of the company's stock after selling 94,632 shares during the quarter. Comerica Bank's holdings in Organon & Co. were worth $1,712,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in OGN. MassMutual Private Wealth & Trust FSB raised its holdings 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 worth $41,000 after purchasing an additional 672 shares during the period. Treasurer of the State of North Carolina increased its position in shares of Organon & Co. by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 113,120 shares of the company's stock valued at $1,688,000 after buying an additional 710 shares in the last quarter. Beam Wealth Advisors Inc. raised its stake in Organon & Co. by 3.9% during the 4th quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company's stock worth $282,000 after buying an additional 717 shares during the period. HighTower Advisors LLC raised its stake 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 buying an additional 855 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in Organon & Co. by 4.9% during the fourth quarter. CIBC Asset Management Inc now owns 25,523 shares of the company's stock worth $381,000 after acquiring an additional 1,184 shares in the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Price Performance

Shares of NYSE OGN traded down $0.28 during midday trading on Tuesday, reaching $8.43. 7,471,350 shares of the company were exchanged, compared to its average volume of 3,105,223. The stock's 50-day moving average price is $12.63 and its 200-day moving average price is $14.52. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a one year low of $8.05 and a one year high of $23.10. The stock has a market cap of $2.19 billion, a P/E ratio of 2.53, a PEG ratio of 0.90 and a beta of 0.75.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.89 by $0.13. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $1.22 EPS. The company's quarterly revenue was down 6.7% on a year-over-year basis. On average, sell-side analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

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

Insider Activity

In related news, CFO Matthew M. Walsh bought 11,400 shares of the stock in a transaction dated Monday, May 5th. The stock was bought at an average price of $8.82 per share, with a total value of $100,548.00. Following the purchase, the chief financial officer now owns 144,484 shares in the company, valued at approximately $1,274,348.88. The trade was a 8.57% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Daniel Karp acquired 3,500 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average price of $8.24 per share, for a total transaction of $28,840.00. Following the transaction, the vice president now directly owns 46,669 shares of the company's stock, valued at approximately $384,552.56. This trade represents a 8.11% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 102,345 shares of company stock worth $902,430. 1.96% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Evercore ISI downgraded Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. Morgan Stanley reduced their price objective on Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $18.00.

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.