Envestnet Asset Management Inc. Has $4.51 Million Holdings 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. lifted its stake in Organon & Co. (NYSE:OGN - Free Report) by 25.3% in the 1st quarter, according to its most recent Form 13F 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. GeoWealth Management LLC acquired a new stake in shares of Organon & Co. during the 4th quarter worth approximately $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Organon & Co. during the 1st quarter worth approximately $60,000. GAMMA Investing LLC increased its position in Organon & Co. by 186.9% in the 1st 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 during the period. Cary Street Partners Financial LLC acquired a new stake in Organon & Co. in the 4th quarter valued at approximately $111,000. Finally, NBC Securities Inc. increased its position in Organon & Co. by 111,262.5% in the 1st quarter. NBC Securities Inc. now owns 8,909 shares of the company's stock valued at $132,000 after acquiring an additional 8,901 shares during the period. Hedge funds and other institutional investors own 77.43% of the company's stock.

Organon & Co. Stock Performance

OGN traded up $0.05 on Tuesday, hitting $10.02. 382,570 shares of the stock traded hands, compared to its average volume of 4,400,642. Organon & Co. has a 52 week low of $8.01 and a 52 week high of $23.10. The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 16.49. The firm has a market capitalization of $2.60 billion, a PE ratio of 3.47, a P/E/G ratio of 1.06 and a beta of 0.60. The business has a fifty day moving average price of $9.67 and a two-hundred day moving average price of $12.25.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.13. Organon & Co. had a return on equity of 227.43% and a net margin of 11.92%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the company posted $1.22 EPS. The company's revenue was down 6.7% compared to the same quarter last year. On average, research analysts predict that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend was Monday, May 12th. Organon & Co.'s payout ratio is currently 2.78%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Piper Sandler reduced their price objective on Organon & Co. from $24.00 to $18.00 and set an "overweight" rating for the company in a research note 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 for the company in a research report on Monday, May 5th. BNP Paribas raised Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Evercore ISI lowered Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

Insiders Place Their Bets

In other news, CEO Kevin Ali acquired 34,000 shares of Organon & Co. stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $8.80 per share, with a total value of $299,200.00. Following the acquisition, the chief executive officer owned 282,731 shares in the company, valued at $2,488,032.80. This represents a 13.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew M. Walsh acquired 11,400 shares of Organon & Co. stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $8.82 per share, for a total transaction of $100,548.00. Following the acquisition, the chief financial officer owned 144,484 shares in the company, valued at approximately $1,274,348.88. This represents a 8.57% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 102,345 shares of company stock valued at $902,430 over the last quarter. 1.96% of the stock is owned by insiders.

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.