Ameriprise Financial Inc. Has $11 Million Stock Holdings in Organon & Co. (NYSE:OGN)

Ameriprise Financial Inc. cut its stake in Organon & Co. (NYSE:OGN - Free Report) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 737,343 shares of the company's stock after selling 137,190 shares during the period. Ameriprise Financial Inc. owned approximately 0.29% of Organon & Co. worth $11,001,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Barclays PLC increased its position in shares of Organon & Co. by 238.0% during the 3rd quarter. Barclays PLC now owns 119,483 shares of the company's stock valued at $2,285,000 after purchasing an additional 84,136 shares during the period. HB Wealth Management LLC grew its holdings in Organon & Co. by 64.2% during the fourth quarter. HB Wealth Management LLC now owns 18,114 shares of the company's stock worth $270,000 after acquiring an additional 7,081 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Organon & Co. by 32.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company's stock worth $41,000 after acquiring an additional 672 shares during the period. Bill Few Associates Inc. raised its position in Organon & Co. by 10.2% in the fourth quarter. Bill Few Associates Inc. now owns 13,866 shares of the company's stock worth $207,000 after acquiring an additional 1,283 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in Organon & Co. by 6.5% in the 4th quarter. Sound Income Strategies LLC now owns 651,106 shares of the company's stock valued at $9,714,000 after acquiring an additional 39,726 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company's stock.

Wall Street Analysts Forecast Growth

OGN has been the topic of a number of research reports. Barclays dropped their target price on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Evercore ISI downgraded Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. Piper Sandler reduced 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, Morgan Stanley decreased their target price on Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $18.00.

Organon & Co. Trading Up 3.3%

Shares of OGN traded up $0.28 during midday trading on Thursday, hitting $8.71. The stock had a trading volume of 6,612,456 shares, compared to its average volume of 3,214,604. The business has a 50-day simple moving average of $11.83 and a two-hundred day simple moving average of $14.16. The firm has a market cap of $2.26 billion, a P/E ratio of 2.61, a price-to-earnings-growth ratio of 0.90 and a beta of 0.75. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. Organon & Co. has a fifty-two week low of $8.01 and a fifty-two week 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 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.13. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the business posted $1.22 EPS. The company's revenue was down 6.7% on a year-over-year basis. As a group, equities analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.92%. Organon & Co.'s dividend payout ratio is 2.78%.

Insider Activity

In related news, CEO Kevin Ali purchased 34,000 shares of Organon & Co. stock in a transaction dated Monday, May 5th. The stock was acquired at an average cost of $8.80 per share, with a total value of $299,200.00. Following the completion of the transaction, the chief executive officer now directly owns 282,731 shares of the company's stock, valued at $2,488,032.80. This trade represents a 13.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew M. Walsh purchased 11,400 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were bought 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 now owns 144,484 shares of the company's stock, valued at $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 quarter, insiders have acquired 102,345 shares of company stock worth $902,430. 1.96% 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.