First Trust Advisors LP Has $19.33 Million Position in Organon & Co. $OGN

Key Points

• First Trust Advisors increased its Organon stake by 78.1% in the first quarter, adding 1.42 million shares to own 3.23 million shares worth approximately $19.33 million. Institutional investors and hedge funds collectively own 77.43% of the company.
• Organon’s latest quarterly results fell short of expectations, with EPS of $0.71 versus the $0.83 consensus and revenue of $1.46 billion versus $1.49 billion. Revenue declined 3.5% year over year.
• Analyst sentiment remains cautious: five analysts rate the stock Hold and two rate it Sell, producing a consensus “Reduce” rating and an average price target of $11.40, below the reported $13.54 share price.

First Trust Advisors LP boosted its holdings in Organon & Co. (NYSE:OGN - Free Report) by 78.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,227,320 shares of the company's stock after acquiring an additional 1,415,239 shares during the quarter. First Trust Advisors LP owned 1.23% of Organon & Co. worth $19,332,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its position in shares of Organon & Co. by 87.8% during the 4th quarter. Farther Finance Advisors LLC now owns 4,349 shares of the company's stock worth $31,000 after buying an additional 2,033 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in Organon & Co. during the fourth quarter worth $44,000. Kestra Advisory Services LLC acquired a new position in Organon & Co. during the fourth quarter worth $47,000. Empowered Funds LLC bought a new position in shares of Organon & Co. during the fourth quarter valued at $74,000. Finally, Oxford Asset Management LLP acquired a new stake in shares of Organon & Co. in the 4th quarter valued at $74,000. Institutional investors and hedge funds own 77.43% of the company's stock.

Organon & Co. Stock Performance

Shares of NYSE:OGN opened at $13.54 on Thursday. Organon & Co. has a twelve month low of $5.69 and a twelve month high of $13.60. The firm has a market cap of $3.56 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.25 and a beta of 1.54. The company has a debt-to-equity ratio of 9.47, a quick ratio of 1.42 and a current ratio of 1.97. The business has a fifty day moving average of $13.47 and a 200-day moving average of $10.34.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.12). The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. Organon & Co. had a net margin of 3.99% and a return on equity of 99.95%. The business's quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 earnings per share. On average, equities research analysts predict that Organon & Co. will post 3.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OGN. BNP Paribas Exane reaffirmed a "neutral" rating and issued a $14.00 target price (up from $12.00) on shares of Organon & Co. in a report on Wednesday, April 29th. Piper Sandler upgraded shares of Organon & Co. from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $5.00 to $14.00 in a research report on Tuesday, April 28th. Weiss Ratings upgraded shares of Organon & Co. from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, July 13th. Finally, Zacks Research raised Organon & Co. from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $11.40.

Insiders Place Their Bets

In related news, SVP Lynette Holzbaur acquired 26,448 shares of the stock in a transaction on Wednesday, May 6th. The stock was purchased at an average price of $13.35 per share, for a total transaction of $353,080.80. Following the transaction, the senior vice president owned 52,851 shares of the company's stock, valued at $705,560.85. The trade was a 100.17% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.62% of the company's stock.

About Organon & Co.

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.

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