Allspring Global Investments Holdings LLC Has $5.13 Million Stake in Organon & Co. (NYSE:OGN)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 52.3% in the first quarter, according to its most recent disclosure 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 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Organon & Co. during the first quarter worth approximately $60,000. Philip James Wealth Mangement LLC lifted its position in Organon & Co. by 1.7% during the first quarter. Philip James Wealth Mangement LLC now owns 885,305 shares of the company's stock worth $13,182,000 after acquiring an additional 14,702 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in Organon & Co. by 48.5% during the first quarter. Illinois Municipal Retirement Fund now owns 205,508 shares of the company's stock worth $3,060,000 after acquiring an additional 67,141 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in Organon & Co. by 42.2% during the first quarter. Sequoia Financial Advisors LLC now owns 19,392 shares of the company's stock worth $289,000 after acquiring an additional 5,758 shares during the last quarter. Finally, HBK Sorce Advisory LLC acquired a new stake in shares of Organon & Co. in the first quarter valued at approximately $241,000. Institutional investors own 77.43% of the company's stock.

Organon & Co. Price Performance

Shares of OGN traded down $0.06 during midday trading on Monday, hitting $9.90. The company's stock had a trading volume of 384,711 shares, compared to its average volume of 3,533,586. Organon & Co. has a one year low of $8.01 and a one year high of $23.10. The company's fifty day simple moving average is $9.61 and its two-hundred day simple moving average is $12.85. The company has a quick ratio of 1.15, a current ratio of 1.67 and a debt-to-equity ratio of 16.49. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 3.45, a price-to-earnings-growth ratio of 1.02 and a beta of 0.60.

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. The company 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 EPS. As a group, equities analysts expect that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were issued a $0.02 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.81%. Organon & Co.'s payout ratio is 2.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. BNP Paribas upgraded shares of Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. Piper Sandler dropped their price target 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. Morgan Stanley dropped 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 research report on Monday, May 5th. Finally, Evercore ISI downgraded shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Organon & Co. presently has an average rating of "Moderate Buy" and a consensus price target of $18.00.

Insider Buying and Selling

In related news, VP Daniel Karp acquired 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average cost of $8.24 per share, for a total transaction of $28,840.00. Following the completion of the acquisition, the vice president directly owned 46,669 shares of the company's stock, valued at approximately $384,552.56. This trade represents a 8.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Matthew M. Walsh purchased 11,400 shares of the firm's stock in a transaction on Monday, May 5th. The shares were acquired at an average price of $8.82 per share, with a total value of $100,548.00. Following the completion of the acquisition, the chief financial officer owned 144,484 shares in the company, valued at approximately $1,274,348.88. This trade represents a 8.57% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 102,345 shares of company stock valued at $902,430. Company insiders own 1.40% of the company's stock.

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.