Allianz Asset Management GmbH Purchases 167,958 Shares of Organon & Co. (NYSE:OGN)

Allianz Asset Management GmbH raised its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 15.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,276,249 shares of the company's stock after purchasing an additional 167,958 shares during the quarter. Allianz Asset Management GmbH owned 0.49% of Organon & Co. worth $19,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in OGN. Optimist Retirement Group LLC lifted its holdings in Organon & Co. by 248.1% during the 1st quarter. Optimist Retirement Group LLC now owns 139,834 shares of the company's stock worth $2,082,000 after buying an additional 99,669 shares in the last quarter. Easterly Investment Partners LLC increased its position in shares of Organon & Co. by 22.4% in the 1st quarter. Easterly Investment Partners LLC now owns 486,623 shares of the company's stock valued at $7,246,000 after buying an additional 88,989 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Organon & Co. by 81.7% in the 1st quarter. Victory Capital Management Inc. now owns 401,967 shares of the company's stock worth $5,985,000 after purchasing an additional 180,689 shares during the period. Prevail Innovative Wealth Advisors LLC acquired a new position in Organon & Co. in the 1st quarter worth $451,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Organon & Co. by 8.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,715,445 shares of the company's stock worth $159,553,000 after buying an additional 820,378 shares during the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OGN. BNP Paribas raised shares of Organon & Co. to a "strong-buy" rating in a report on Thursday, May 22nd. Morgan Stanley decreased their price objective on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Piper Sandler cut their target price on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Finally, Evercore ISI lowered shares of Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

Insider Activity at Organon & Co.

In other Organon & Co. news, CEO Kevin Ali acquired 34,000 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were acquired at an average price of $8.80 per share, with a total value of $299,200.00. Following the completion of the purchase, the chief executive officer directly owned 282,731 shares of the company's stock, valued at approximately $2,488,032.80. The trade was a 13.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kirke Weaver purchased 8,045 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average price of $9.21 per share, for a total transaction of $74,094.45. Following the acquisition, the insider owned 52,489 shares of the company's stock, valued at approximately $483,423.69. The trade was a 18.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 102,345 shares of company stock worth $902,430. 1.96% of the stock is currently owned by company insiders.

Organon & Co. Stock Performance

Shares of OGN stock traded up $0.11 during trading on Friday, reaching $10.18. 2,176,057 shares of the company's stock traded hands, compared to its average volume of 3,550,920. The company has a market capitalization of $2.65 billion, a P/E ratio of 3.53, a PEG ratio of 1.05 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 $9.66 and its 200 day moving average is $12.34. Organon & Co. has a 1 year low of $8.01 and a 1 year high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.13. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. The firm had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter last year, the company posted $1.22 EPS. The business's quarterly revenue was down 6.7% on a year-over-year basis. Equities research analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Monday, May 12th. Organon & Co.'s payout ratio is 2.78%.

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.