Allspring Global Investments Holdings LLC Sells 397,631 Shares of Organon & Co. (NYSE:OGN)

Allspring Global Investments Holdings LLC reduced its position in Organon & Co. (NYSE:OGN - Free Report) by 52.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 363,176 shares of the company's stock after selling 397,631 shares during the period. Allspring Global Investments Holdings LLC owned 0.14% of Organon & Co. worth $5,132,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in OGN. Millstone Evans Group LLC acquired a new stake in shares of Organon & Co. in the 4th quarter valued at $29,000. Larson Financial Group LLC increased its stake in shares of Organon & Co. by 345.4% in the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company's stock valued at $33,000 after buying an additional 1,734 shares during the period. GeoWealth Management LLC acquired a new stake in shares of Organon & Co. in the 4th quarter valued at $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Organon & Co. in the 1st quarter valued at $60,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Organon & Co. by 1,795.8% in the 4th quarter. Jones Financial Companies Lllp now owns 4,550 shares of the company's stock valued at $68,000 after buying an additional 4,310 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Organon & Co.

In other news, CEO Kevin Ali purchased 34,000 shares of the business's stock in a transaction dated Monday, May 5th. The shares were bought at an average cost of $8.80 per share, for a total transaction of $299,200.00. Following the completion of the acquisition, the chief executive officer directly owned 282,731 shares in the company, valued at approximately $2,488,032.80. This trade represents a 13.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew M. Walsh purchased 11,400 shares of the business's stock in a transaction dated Monday, May 5th. The stock was purchased at an average price of $8.82 per share, for a total transaction of $100,548.00. Following the completion of the acquisition, the chief financial officer owned 144,484 shares of the company's stock, valued at approximately $1,274,348.88. This represents a 8.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 102,345 shares of company stock valued at $902,430. 1.96% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Organon & Co. Trading Up 0.1%

OGN stock traded up $0.01 during midday trading on Wednesday, hitting $9.96. 3,640,259 shares of the company's stock were exchanged, compared to its average volume of 3,565,941. The stock's fifty day moving average price is $9.43 and its 200-day moving average price is $12.77. The company has a debt-to-equity ratio of 16.49, a quick ratio of 1.15 and a current ratio of 1.67. The company has a market cap of $2.59 billion, a PE ratio of 3.46, a price-to-earnings-growth ratio of 1.02 and a beta of 0.60. 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 posted its earnings results on Thursday, May 1st. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.13. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.53 billion. Organon & Co. had a return on equity of 227.43% and a net margin of 11.92%. The company's revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 earnings per share. Research analysts predict that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were issued a $0.02 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.80%. Organon & Co.'s dividend payout ratio (DPR) is 2.78%.

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.