Caliber Wealth Management LLC KS Makes New Investment in Organon & Co. (NYSE:OGN)

Key Points

• Caliber Wealth Management LLC KS has acquired 26,450 shares of Organon & Co. (NYSE:OGN), valued at approximately $394,000, indicating growing interest from institutional investors.
• CEO Kevin Ali purchased 34,000 shares of the company at an average price of $8.80 per share, reflecting a 13.67% increase in his holdings.
• Organon & Co. reported $1.02 EPS for the last quarter, exceeding analysts' expectations, but experienced a 6.7% decline in revenue compared to the previous year.

Caliber Wealth Management LLC KS bought a new stake in shares of Organon & Co. (NYSE:OGN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 26,450 shares of the company's stock, valued at approximately $394,000.

Several other large investors have also recently made changes to their positions in the business. GeoWealth Management LLC purchased a new position in Organon & Co. in the 4th quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Organon & Co. in the 1st quarter worth approximately $60,000. GAMMA Investing LLC grew its position in Organon & Co. by 186.9% in the 1st quarter. GAMMA Investing LLC now owns 4,611 shares of the company's stock worth $69,000 after purchasing an additional 3,004 shares during the period. Cary Street Partners Financial LLC bought a new stake in Organon & Co. in the 4th quarter worth approximately $111,000. Finally, SBI Securities Co. Ltd. grew its position in Organon & Co. by 17.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 7,653 shares of the company's stock worth $114,000 after purchasing an additional 1,145 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Price Performance

Organon & Co. stock traded up $0.09 during mid-day trading on Wednesday, hitting $10.23. The stock had a trading volume of 1,025,365 shares, compared to its average volume of 4,400,799. The firm has a market capitalization of $2.66 billion, a P/E ratio of 3.55, a P/E/G ratio of 1.04 and a beta of 0.60. The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 16.49. The firm's 50 day moving average is $9.70 and its 200 day moving average is $12.23. Organon & Co. has a one year low of $8.01 and a one year high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.89 by $0.13. The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.53 billion. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. The business's quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 EPS. On average, sell-side analysts forecast that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Monday, May 12th. Organon & Co.'s dividend payout ratio is 2.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Morgan Stanley cut their target price on shares of 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. BNP Paribas raised shares of Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. Evercore ISI downgraded shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. Finally, Piper Sandler cut their price objective on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

Insider Buying and Selling at Organon & Co.

In other Organon & Co. news, CEO Kevin Ali bought 34,000 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were purchased at an average cost of $8.80 per share, for a total transaction of $299,200.00. Following the transaction, the chief executive officer owned 282,731 shares of the company's stock, valued at $2,488,032.80. This represents a 13.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kirke Weaver bought 8,045 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $9.21 per share, for a total transaction of $74,094.45. Following the completion of the transaction, the insider directly owned 52,489 shares in the company, valued at approximately $483,423.69. This represents a 18.10% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 102,345 shares of company stock valued at $902,430 over the last quarter. 1.40% of the stock is owned by corporate insiders.

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.