Envestnet Asset Management Inc. Has $4.51 Million Stock Position in Organon & Co. (NYSE:OGN)

Key Points

• Envestnet Asset Management Inc. increased its holdings in Organon & Co. by 25.3%, owning approximately 303,138 shares valued at $4.51 million after additional purchases in the first quarter.
• Organon & Co. recently reported earnings of $1.02 per share, exceeding expectations of $0.89, although its quarterly revenue decreased by 6.7% compared to the previous year.
• The company announced a quarterly dividend of $0.02, reflecting an annualized yield of 0.79%, along with significant insider purchases that increased ownership among key executives.

Envestnet Asset Management Inc. grew its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 25.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 303,138 shares of the company's stock after buying an additional 61,228 shares during the period. Envestnet Asset Management Inc. owned approximately 0.12% of Organon & Co. worth $4,514,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Xponance Inc. bought a new position in shares of Organon & Co. in the fourth quarter worth $179,000. Teacher Retirement System of Texas increased its position in shares of Organon & Co. by 18.2% in the fourth quarter. Teacher Retirement System of Texas now owns 76,264 shares of the company's stock worth $1,138,000 after purchasing an additional 11,763 shares during the period. American Century Companies Inc. increased its position in shares of Organon & Co. by 4.3% in the fourth quarter. American Century Companies Inc. now owns 42,948 shares of the company's stock worth $641,000 after purchasing an additional 1,777 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Organon & Co. in the fourth quarter worth $812,000. Finally, LPL Financial LLC increased its position in shares of Organon & Co. by 160.7% in the fourth quarter. LPL Financial LLC now owns 457,687 shares of the company's stock worth $6,829,000 after purchasing an additional 282,150 shares during the period. Institutional investors own 77.43% of the company's stock.

Organon & Co. Trading Up 1.0%

Shares of OGN stock traded up $0.11 during mid-day trading on Friday, reaching $10.18. 2,176,057 shares of the stock traded hands, compared to its average volume of 3,550,920. The stock's fifty day simple moving average is $9.66 and its two-hundred day simple moving average is $12.32. Organon & Co. has a 1-year low of $8.01 and a 1-year high of $23.10. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 2.82, a price-to-earnings-growth ratio of 1.06 and a beta of 0.60. The company has a quick ratio of 1.15, a current ratio of 1.67 and a debt-to-equity ratio of 16.49.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings results 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 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 analyst estimates of $1.53 billion. During the same period last year, the firm posted $1.22 earnings per share. The business's revenue for the quarter was down 6.7% on a year-over-year basis. On average, research analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Monday, May 12th. Organon & Co.'s dividend payout ratio is currently 2.78%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on OGN shares. Evercore ISI cut Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. 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. 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, BNP Paribas upgraded Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Organon & Co. has an average rating of "Moderate Buy" and an average target price of $18.00.

Insider Buying and Selling

In related news, CFO Matthew M. Walsh acquired 11,400 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were bought at an average cost of $8.82 per share, with a total value of $100,548.00. Following the completion of the purchase, the chief financial officer directly owned 144,484 shares in the company, valued at $1,274,348.88. The trade was a 8.57% 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, insider Kirke Weaver acquired 8,045 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average cost of $9.21 per share, for a total transaction of $74,094.45. Following the completion of the purchase, the insider owned 52,489 shares of the company's stock, valued at $483,423.69. This trade represents a 18.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 102,345 shares of company stock valued at $902,430 in the last ninety days. Insiders own 1.96% of the company's stock.

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.