Cetera Investment Advisers Purchases 29,287 Shares of Organon & Co. (NYSE:OGN)

Cetera Investment Advisers boosted its position in Organon & Co. (NYSE:OGN - Free Report) by 62.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,005 shares of the company's stock after acquiring an additional 29,287 shares during the quarter. Cetera Investment Advisers' holdings in Organon & Co. were worth $1,134,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in OGN. Barclays PLC increased its stake in Organon & Co. by 238.0% in the third quarter. Barclays PLC now owns 119,483 shares of the company's stock valued at $2,285,000 after acquiring an additional 84,136 shares during the last quarter. HB Wealth Management LLC increased its stake in Organon & Co. by 64.2% in the fourth quarter. HB Wealth Management LLC now owns 18,114 shares of the company's stock valued at $270,000 after acquiring an additional 7,081 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in 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 acquiring an additional 672 shares during the last quarter. Bill Few Associates Inc. increased its stake in Organon & Co. by 10.2% in the fourth quarter. Bill Few Associates Inc. now owns 13,866 shares of the company's stock valued at $207,000 after acquiring an additional 1,283 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in Organon & Co. by 6.5% in the fourth 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. 77.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Organon & Co. Stock Performance

NYSE OGN opened at $8.71 on Friday. The firm's fifty day moving average price is $11.69 and its two-hundred day moving average price is $14.10. The stock has a market cap of $2.26 billion, a PE ratio of 2.61, a PEG ratio of 0.90 and a beta of 0.75. Organon & Co. has a fifty-two week low of $8.01 and a fifty-two week high of $23.10. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $1.02 earnings per share 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 for the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the previous year, the firm posted $1.22 earnings per share. The company's revenue was down 6.7% on a year-over-year basis. On average, equities analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Cuts Dividend

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

Insider Buying and Selling

In other Organon & Co. news, insider Kirke Weaver acquired 8,045 shares of Organon & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were bought 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 now directly owns 52,489 shares in the company, valued at $483,423.69. This trade represents a 18.10% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Daniel Karp acquired 3,500 shares of Organon & Co. stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average cost of $8.24 per share, for a total transaction of $28,840.00. Following the purchase, the vice president now owns 46,669 shares of the company's stock, valued at $384,552.56. The trade was a 8.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 102,345 shares of company stock valued at $902,430 over the last 90 days. 1.96% of the stock is owned by insiders.

Organon & Co. Company 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.

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