Foundry Partners LLC Lowers Holdings in Organon & Co. (NYSE:OGN)

Foundry Partners LLC reduced its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 26.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 302,319 shares of the company's stock after selling 108,138 shares during the quarter. Foundry Partners LLC owned 0.12% of Organon & Co. worth $4,502,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Millstone Evans Group LLC purchased a new position in shares of Organon & Co. during the 4th quarter valued at approximately $29,000. GeoWealth Management LLC purchased a new position in Organon & Co. in the fourth quarter valued at $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Organon & Co. in the first quarter valued at $60,000. GAMMA Investing LLC raised its position in shares of Organon & Co. by 186.9% in the first quarter. GAMMA Investing LLC now owns 4,611 shares of the company's stock worth $69,000 after acquiring an additional 3,004 shares during the period. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of Organon & Co. during the 4th quarter worth about $111,000. 77.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on OGN. Evercore ISI cut Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday, May 2nd. BNP Paribas upgraded Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. Morgan Stanley cut 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 report on Monday, May 5th. Finally, Piper Sandler reduced their price objective on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

Organon & Co. Stock Performance

NYSE OGN opened at $9.46 on Friday. The company has a debt-to-equity ratio of 16.49, a current ratio of 1.67 and a quick ratio of 1.15. The stock's 50 day simple moving average is $9.52 and its 200-day simple moving average is $12.51. The company has a market cap of $2.46 billion, a PE ratio of 3.28, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. Organon & Co. has a 1-year low of $8.01 and a 1-year high of $23.10.

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

Organon & Co. Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Monday, May 12th. Organon & Co.'s dividend payout ratio is currently 2.78%.

Insider Buying and Selling at Organon & Co.

In other Organon & Co. news, CEO Kevin Ali acquired 34,000 shares of the business's stock in a transaction on Monday, May 5th. The stock was bought at an average price of $8.80 per share, for a total transaction of $299,200.00. Following the acquisition, the chief executive officer owned 282,731 shares in the company, valued at approximately $2,488,032.80. The trade was a 13.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Daniel Karp bought 3,500 shares of the firm's stock in a transaction 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 completion of the purchase, the vice president directly owned 46,669 shares in the company, valued at approximately $384,552.56. This represents a 8.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 102,345 shares of company stock valued at $902,430. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.