Exchange Traded Concepts LLC Buys 75,741 Shares of Organon & Co. (NYSE:OGN)

Exchange Traded Concepts LLC boosted its holdings in Organon & Co. (NYSE:OGN - Free Report) by 157.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 123,927 shares of the company's stock after acquiring an additional 75,741 shares during the quarter. Exchange Traded Concepts LLC's holdings in Organon & Co. were worth $1,845,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in OGN. Allspring Global Investments Holdings LLC lifted its position in shares of Organon & Co. by 191.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 760,807 shares of the company's stock worth $11,382,000 after buying an additional 499,616 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Organon & Co. by 91.3% during the 4th quarter. Van ECK Associates Corp now owns 529,482 shares of the company's stock worth $7,900,000 after buying an additional 252,750 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Organon & Co. by 42.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 143,877 shares of the company's stock worth $2,147,000 after buying an additional 42,817 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Organon & Co. by 2.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,248,797 shares of the company's stock worth $18,632,000 after buying an additional 32,485 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Organon & Co. by 4.9% during the 4th quarter. CIBC Asset Management Inc now owns 25,523 shares of the company's stock worth $381,000 after buying an additional 1,184 shares in the last quarter. Institutional investors own 77.43% of the company's stock.

Insider Activity

In related news, VP Daniel Karp acquired 3,500 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was bought at an average cost of $8.24 per share, with a total value of $28,840.00. Following the acquisition, the vice president now owns 46,669 shares of the company's stock, valued at approximately $384,552.56. The trade was a 8.11% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kirke Weaver acquired 8,045 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were bought at an average cost of $9.21 per share, with a total value of $74,094.45. Following the completion of the acquisition, the insider now directly owns 52,489 shares in the company, valued at $483,423.69. The trade was a 18.10% increase in their position. The disclosure for this purchase can be found here. Insiders bought 102,345 shares of company stock worth $902,430 in the last three months. Corporate insiders own 1.40% of the company's stock.

Organon & Co. Stock Performance

Organon & Co. stock traded up $0.04 during mid-day trading on Wednesday, reaching $9.89. The company's stock had a trading volume of 3,014,247 shares, compared to its average volume of 3,440,376. Organon & Co. has a 12-month low of $8.01 and a 12-month high of $23.10. The company has a market capitalization of $2.57 billion, a P/E ratio of 3.43, a PEG ratio of 1.08 and a beta of 0.58. The company has a debt-to-equity ratio of 16.49, a quick ratio of 1.15 and a current ratio of 1.67. The firm's fifty day moving average price is $10.00 and its two-hundred day moving average price is $13.33.

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 analysts' consensus estimates of $0.89 by $0.13. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.53 billion. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. Organon & Co.'s revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 EPS. Sell-side analysts predict that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have commented on OGN shares. BNP Paribas raised shares of Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. Morgan Stanley decreased their price target on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. Evercore ISI lowered shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. Finally, Piper Sandler decreased their price target on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. One 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. According to MarketBeat, Organon & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

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.