Organon & Co. (NYSE:OGN) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 15.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 737,343 shares of the company's stock after selling 137,190 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.29% of Organon & Co. worth $11,001,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in OGN. Millstone Evans Group LLC purchased a new stake in Organon & Co. in the 4th quarter valued at $29,000. Larson Financial Group LLC lifted 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 purchasing an additional 1,734 shares during the last quarter. Riverview Trust Co lifted its stake in shares of Organon & Co. by 117.7% in the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company's stock valued at $36,000 after purchasing an additional 1,292 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Organon & Co. by 32.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company's stock valued at $41,000 after purchasing an additional 672 shares during the period. Finally, GeoWealth Management LLC purchased a new position in shares of Organon & Co. in the fourth quarter valued at approximately $41,000. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Kirke Weaver purchased 8,045 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $9.21 per share, for a total transaction of $74,094.45. Following the acquisition, the insider now owns 52,489 shares in the company, valued at approximately $483,423.69. This trade represents a 18.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Daniel Karp purchased 3,500 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average price of $8.24 per share, with a total value of $28,840.00. Following the completion of the acquisition, the vice president now owns 46,669 shares in the company, valued at $384,552.56. This represents a 8.11% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 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

A number of equities research analysts have issued reports on the company. Piper Sandler reduced their price target on Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Evercore ISI downgraded Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. Morgan Stanley lowered their target price on 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. Finally, Barclays decreased their price target on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $18.00.

Organon & Co. Stock Performance

NYSE OGN remained flat at $8.69 during trading hours on Friday. The company had a trading volume of 5,395,638 shares, compared to its average volume of 3,245,427. The stock has a 50-day simple moving average of $11.55 and a 200 day simple moving average of $14.04. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a 1 year low of $8.01 and a 1 year high of $23.10. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 2.61, a P/E/G ratio of 0.90 and a beta of 0.75.

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, beating 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 company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the company posted $1.22 EPS. The company's quarterly revenue was down 6.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, May 12th. Organon & Co.'s dividend payout ratio (DPR) is currently 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.