Organon & Co. (NYSE:OGN) Shares Sold by Man Group plc

Man Group plc cut its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 30.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,792 shares of the company's stock after selling 39,645 shares during the period. Man Group plc's holdings in Organon & Co. were worth $1,370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in Organon & Co. by 94,482.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock valued at $166,391,000 after buying an additional 11,140,388 shares during the period. Norges Bank purchased a new stake in Organon & Co. during the 4th quarter valued at $25,258,000. Magnetar Financial LLC raised its holdings in Organon & Co. by 560.2% during the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company's stock valued at $25,878,000 after buying an additional 1,471,731 shares during the period. Dimensional Fund Advisors LP raised its holdings in Organon & Co. by 23.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,284,408 shares of the company's stock valued at $48,999,000 after buying an additional 629,191 shares during the period. Finally, Invesco Ltd. raised its holdings in Organon & Co. by 44.6% during the 4th 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 period. 77.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OGN. Morgan Stanley dropped their price objective on Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. Evercore ISI downgraded Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. BNP Paribas raised Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. Barclays cut their price objective on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Finally, Piper Sandler cut their price objective on Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock 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 issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $18.00.

Organon & Co. Price Performance

Shares of Organon & Co. stock traded down $0.10 on Wednesday, reaching $9.05. The company's stock had a trading volume of 2,890,581 shares, compared to its average volume of 4,625,806. The company has a market capitalization of $2.35 billion, a P/E ratio of 2.73, a PEG ratio of 0.90 and a beta of 0.75. Organon & Co. has a 52-week low of $8.01 and a 52-week high of $23.10. The stock has a 50-day moving average price of $11.27 and a 200-day moving average price of $13.94. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73.

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, topping analysts' consensus estimates of $0.89 by $0.13. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The firm's revenue for the quarter was down 6.7% compared to the same quarter last year. Analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.88%. Organon & Co.'s dividend payout ratio is currently 2.78%.

Insider Transactions at Organon & Co.

In related news, VP Daniel Karp acquired 3,500 shares of Organon & Co. stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $8.24 per share, with a total value of $28,840.00. Following the purchase, the vice president now directly owns 46,669 shares in the company, valued at approximately $384,552.56. The trade was a 8.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin Ali bought 34,000 shares of the business's stock in a transaction dated Monday, May 5th. The shares were acquired at an average cost of $8.80 per share, with a total value of $299,200.00. Following the completion of the purchase, the chief executive officer now owns 282,731 shares in the company, valued at approximately $2,488,032.80. This represents a 13.67% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 102,345 shares of company stock valued at $902,430. 1.96% of the stock is currently owned by corporate insiders.

About Organon & Co.

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.