Foundry Partners LLC Has $4.50 Million Stock Holdings in Organon & Co. (NYSE:OGN)

Foundry Partners LLC cut its stake in Organon & Co. (NYSE:OGN - Free Report) by 26.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Organon & Co. in the 4th quarter valued at about $25,258,000. Massachusetts Financial Services Co. MA increased its position in Organon & Co. by 8.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,715,445 shares of the company's stock valued at $159,553,000 after acquiring an additional 820,378 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Organon & Co. in the fourth quarter worth about $11,892,000. Dimensional Fund Advisors LP boosted its stake in shares of Organon & Co. by 23.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,284,408 shares of the company's stock worth $48,999,000 after acquiring an additional 629,191 shares during the period. Finally, Invesco Ltd. boosted its stake in Organon & Co. by 44.6% during the fourth quarter. Invesco Ltd. now owns 2,034,780 shares of the company's stock valued at $30,359,000 after buying an additional 627,944 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on OGN shares. BNP Paribas raised 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 on the stock in a report on Monday, May 5th. Piper Sandler dropped their price target on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Finally, Evercore ISI lowered shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $18.00.

Organon & Co. Stock Up 3.5%

Shares of OGN stock traded up $0.34 on Wednesday, hitting $10.16. The company's stock had a trading volume of 1,042,634 shares, compared to its average volume of 3,633,574. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 3.53, a P/E/G ratio of 0.98 and a beta of 0.60. The company has a debt-to-equity ratio of 16.49, a current ratio of 1.67 and a quick ratio of 1.15. Organon & Co. has a fifty-two week low of $8.01 and a fifty-two week high of $23.10. The firm's fifty day moving average price is $9.52 and its 200-day moving average price is $12.49.

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

Organon & Co. Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were given a $0.02 dividend. 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 0.79%. Organon & Co.'s dividend payout ratio (DPR) is currently 2.78%.

Insider Activity

In related news, CFO Matthew M. Walsh acquired 11,400 shares of the business's stock in a transaction on Monday, May 5th. The stock was acquired at an average cost of $8.82 per share, with a total value of $100,548.00. Following the acquisition, the chief financial officer directly owned 144,484 shares in the company, valued at $1,274,348.88. This represents a 8.57% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kirke Weaver purchased 8,045 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average price of $9.21 per share, with a total value of $74,094.45. Following the completion of the transaction, the insider owned 52,489 shares of the company's stock, valued at $483,423.69. The trade was a 18.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 102,345 shares of company stock valued at $902,430 over the last ninety days. 1.40% 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.