Envestnet Asset Management Inc. Acquires 162,188 Shares of Organon & Co. (NYSE:OGN)

Envestnet Asset Management Inc. lifted its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 203.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 241,910 shares of the company's stock after buying an additional 162,188 shares during the quarter. Envestnet Asset Management Inc. owned 0.09% of Organon & Co. worth $3,609,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Horizon Bancorp Inc. IN lifted its stake in Organon & Co. by 2,401.5% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company's stock valued at $25,000 after buying an additional 1,585 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of Organon & Co. in the 4th quarter worth approximately $29,000. Larson Financial Group LLC lifted its position in shares of Organon & Co. by 345.4% during the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company's stock valued at $33,000 after acquiring an additional 1,734 shares during the last quarter. Riverview Trust Co boosted its holdings in shares of Organon & Co. by 117.7% in the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company's stock worth $36,000 after buying an additional 1,292 shares during the period. Finally, Versant Capital Management Inc boosted its stake in Organon & Co. by 92.2% in the 4th quarter. Versant Capital Management Inc now owns 2,760 shares of the company's stock worth $41,000 after purchasing an additional 1,324 shares during the period. Hedge funds and other institutional investors own 77.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on OGN. Morgan Stanley cut their price target 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. TD Cowen upgraded Organon & Co. to a "hold" rating in a research note on Wednesday, January 15th. Finally, Barclays dropped their target price on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $19.75.

Organon & Co. Stock Performance

Shares of NYSE OGN traded down $0.22 during midday trading on Wednesday, hitting $12.94. 5,421,945 shares of the company's stock were exchanged, compared to its average volume of 2,746,095. Organon & Co. has a 12 month low of $10.45 and a 12 month high of $23.10. The firm has a market capitalization of $3.36 billion, a PE ratio of 3.89, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73. The company's 50 day moving average price is $13.71 and its 200 day moving average price is $15.08. 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. (NYSE:OGN - Get Free Report) last posted its quarterly 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). The company had revenue of $1.59 billion during 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%. As a group, analysts predict that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 8.66%. The ex-dividend date was Monday, February 24th. Organon & Co.'s dividend payout ratio (DPR) is currently 33.63%.

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.