Bank of New York Mellon Corp Trims Stake in Organon & Co. (NYSE:OGN)

Bank of New York Mellon Corp reduced its holdings in Organon & Co. (NYSE:OGN - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,684,607 shares of the company's stock after selling 118,058 shares during the period. Bank of New York Mellon Corp owned about 1.43% of Organon & Co. worth $54,864,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new position in Organon & Co. during the fourth quarter valued at $29,000. GeoWealth Management LLC purchased a new position in Organon & Co. during the fourth quarter valued at $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Organon & Co. in the first quarter valued at approximately $60,000. Jones Financial Companies Lllp lifted its position in shares of Organon & Co. by 1,795.8% in the fourth quarter. Jones Financial Companies Lllp now owns 4,550 shares of the company's stock valued at $68,000 after acquiring an additional 4,310 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Organon & Co. by 186.9% in the first quarter. GAMMA Investing LLC now owns 4,611 shares of the company's stock valued at $69,000 after acquiring an additional 3,004 shares in the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Organon & Co. news, CEO Kevin Ali bought 34,000 shares of Organon & Co. stock in a transaction on Monday, May 5th. The shares were bought at an average price of $8.80 per share, for a total transaction of $299,200.00. Following the completion of the transaction, the chief executive officer directly owned 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 purchase was disclosed in a document filed with the SEC, which is available at this link. Also, VP Daniel Karp bought 3,500 shares of Organon & Co. stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $8.24 per share, for a total transaction of $28,840.00. Following the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 102,345 shares of company stock valued at $902,430 in the last ninety days. 1.40% of the stock is currently owned by company insiders.

Organon & Co. Trading Down 0.6%

Organon & Co. stock traded down $0.06 during trading on Monday, reaching $9.88. 258,853 shares of the company were exchanged, compared to its average volume of 3,574,329. Organon & Co. has a 52-week low of $8.01 and a 52-week high of $23.10. The company has a market capitalization of $2.57 billion, a P/E ratio of 3.44, a PEG ratio of 1.02 and a beta of 0.60. The company has a debt-to-equity ratio of 16.49, a current ratio of 1.67 and a quick ratio of 1.15. The stock's 50 day simple moving average is $9.45 and its two-hundred day simple moving average is $12.68.

Organon & Co. (NYSE:OGN - Get Free Report) last announced 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 return on equity of 227.43% and a net margin of 11.92%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the business posted $1.22 earnings per share. The firm's revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts expect that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

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

Wall Street Analysts Forecast Growth

OGN has been the topic of several research reports. Piper Sandler decreased their target price 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. BNP Paribas upgraded Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. 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 research report on Monday, May 5th. Finally, Evercore ISI downgraded Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $18.00.

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.