Bank of America Corp DE Has $4.42 Million Stock Position in Organon & Co. $OGN

Key Points

• Bank of America reduced its Organon stake by 58.5% in the first quarter, selling 1.04 million shares and retaining 738,502 shares valued at approximately $4.42 million.
• Institutional ownership remains high at 77.43%, with AQR Capital, UBS, First Trust Advisors, Private Management Group, and Balyasny Asset Management all increasing their positions.
• Analysts maintain a cautious outlook: Organon has an average “Reduce” rating, with five Holds and two Sells and a consensus price target of $11.40, below its $13.77 opening price.

Bank of America Corp DE reduced its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 58.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 738,502 shares of the company's stock after selling 1,041,346 shares during the period. Bank of America Corp DE owned about 0.28% of Organon & Co. worth $4,424,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in Organon & Co. by 105.2% during the fourth quarter. AQR Capital Management LLC now owns 8,570,958 shares of the company's stock worth $61,282,000 after buying an additional 4,394,814 shares during the last quarter. UBS Group AG raised its stake in shares of Organon & Co. by 55.2% in the fourth quarter. UBS Group AG now owns 4,295,002 shares of the company's stock valued at $30,795,000 after acquiring an additional 1,527,492 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Organon & Co. by 78.1% in the first quarter. First Trust Advisors LP now owns 3,227,320 shares of the company's stock valued at $19,332,000 after acquiring an additional 1,415,239 shares during the last quarter. Private Management Group Inc. raised its stake in shares of Organon & Co. by 38.3% in the fourth quarter. Private Management Group Inc. now owns 4,347,073 shares of the company's stock valued at $31,169,000 after acquiring an additional 1,204,979 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Organon & Co. by 102.1% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,240,149 shares of the company's stock worth $23,925,000 after acquiring an additional 1,131,941 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Organon & Co. from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, August 3rd. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Organon & Co. currently has an average rating of "Reduce" and a consensus price target of $11.40.

Organon & Co. Price Performance

Shares of OGN stock opened at $13.77 on Friday. Organon & Co. has a 1 year low of $5.69 and a 1 year high of $13.77. The company has a current ratio of 1.95, a quick ratio of 1.44 and a debt-to-equity ratio of 8.43. The firm's 50 day moving average is $13.58 and its 200-day moving average is $11.09. The firm has a market capitalization of $3.62 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 1.27 and a beta of 1.55.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.08 annualized dividend and a yield of 0.6%. Organon & Co.'s dividend payout ratio is currently 10.39%.

Organon & Co. Profile

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.

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