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

Allspring Global Investments Holdings LLC lessened its position in Organon & Co. (NYSE:OGN - Free Report) by 52.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 approximately 0.14% of Organon & Co. worth $5,132,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hsbc Holdings PLC increased its stake in Organon & Co. by 13.9% during the 4th quarter. Hsbc Holdings PLC now owns 13,922 shares of the company's stock valued at $208,000 after buying an additional 1,703 shares during the period. Wells Fargo & Company MN increased its stake in Organon & Co. by 28.6% during the 4th quarter. Wells Fargo & Company MN now owns 262,746 shares of the company's stock valued at $3,920,000 after buying an additional 58,378 shares during the period. NBC Securities Inc. boosted its position in shares of Organon & Co. by 111,262.5% during the 1st quarter. NBC Securities Inc. now owns 8,909 shares of the company's stock valued at $132,000 after purchasing an additional 8,901 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Organon & Co. by 44.2% during the 4th quarter. Wellington Management Group LLP now owns 32,966 shares of the company's stock valued at $492,000 after purchasing an additional 10,108 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Organon & Co. during the 4th quarter valued at about $4,194,000. Institutional investors and hedge funds own 77.43% of the company's stock.

Organon & Co. Trading Up 2.5%

Shares of OGN traded up $0.24 during midday trading on Tuesday, hitting $9.96. The stock had a trading volume of 5,190,529 shares, compared to its average volume of 3,558,523. Organon & Co. has a fifty-two week low of $8.01 and a fifty-two week high of $23.10. The business has a 50-day simple moving average of $9.55 and a two-hundred day simple moving average of $12.81. The firm has a market cap of $2.59 billion, a P/E ratio of 3.46, a price-to-earnings-growth ratio of 0.99 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.

Organon & Co. (NYSE:OGN - Get Free Report) last posted 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 during 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 firm's quarterly revenue was down 6.7% compared to the same quarter last year. During the same period last year, the company posted $1.22 earnings per share. As a group, equities analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Monday, May 12th. Organon & Co.'s dividend payout ratio is currently 2.78%.

Wall Street Analyst Weigh In

OGN has been the subject of several research reports. Piper Sandler reduced 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. BNP Paribas upgraded shares of Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. Evercore ISI cut shares of Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday, May 2nd. Finally, Morgan Stanley decreased 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 report on Monday, May 5th. 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.00.

Insider Activity at Organon & Co.

In related news, CFO Matthew M. Walsh purchased 11,400 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was acquired at an average cost 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 in the company, valued at $1,274,348.88. This trade represents a 8.57% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kirke Weaver bought 8,045 shares of Organon & Co. stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $9.21 per share, with a total value of $74,094.45. Following the completion of the purchase, the insider directly 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. In the last three months, insiders have acquired 102,345 shares of company stock valued at $902,430. 1.40% of the stock is owned by company 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.