Crestline Management LP Purchases New Position in Organon & Co. (NYSE:OGN)

Crestline Management LP purchased a new stake in Organon & Co. (NYSE:OGN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 31,045 shares of the company's stock, valued at approximately $463,000.

Several other large investors have also modified their holdings of OGN. Barclays PLC raised its position in Organon & Co. by 238.0% in the third quarter. Barclays PLC now owns 119,483 shares of the company's stock worth $2,285,000 after purchasing an additional 84,136 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Organon & Co. by 13.9% in the 4th quarter. Hsbc Holdings PLC now owns 13,922 shares of the company's stock valued at $208,000 after buying an additional 1,703 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in Organon & Co. in the fourth quarter valued at $2,263,000. Wedmont Private Capital raised its stake in Organon & Co. by 453.4% during the fourth quarter. Wedmont Private Capital now owns 100,539 shares of the company's stock worth $1,594,000 after acquiring an additional 82,372 shares in the last quarter. Finally, Sippican Capital Advisors lifted its holdings in shares of Organon & Co. by 138.7% during the fourth quarter. Sippican Capital Advisors now owns 36,352 shares of the company's stock valued at $542,000 after acquiring an additional 21,122 shares during the period. 77.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Kirke Weaver bought 8,045 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average cost of $9.21 per share, for a total transaction of $74,094.45. Following the purchase, the insider now owns 52,489 shares of the company's stock, valued at approximately $483,423.69. This trade represents a 18.10% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Daniel Karp purchased 3,500 shares of Organon & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $8.24 per share, with a total value of $28,840.00. Following the acquisition, the vice president now directly owns 46,669 shares of the company's stock, valued at $384,552.56. This trade represents a 8.11% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 102,345 shares of company stock valued at $902,430 in the last 90 days. 1.96% of the stock is currently owned by insiders.

Organon & Co. Stock Down 3.2%

Shares of OGN traded down $0.28 during mid-day trading on Tuesday, hitting $8.43. 7,471,350 shares of the company's stock were exchanged, compared to its average volume of 3,105,223. 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. has a 52 week low of $8.05 and a 52 week high of $23.10. The company has a market cap of $2.19 billion, a PE ratio of 2.53, a P/E/G ratio of 0.90 and a beta of 0.75. The company has a 50-day simple moving average of $12.63 and a 200 day simple moving average of $14.52.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the business earned $1.22 EPS. The company's revenue was down 6.7% compared to the same quarter last year. On average, research analysts forecast that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on OGN shares. Morgan Stanley cut their price target on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. TD Cowen raised Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Evercore ISI cut 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 for the company in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $18.00.

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.