Neo Ivy Capital Management Sells 103,793 Shares of Organon & Co. (NYSE:OGN)

Neo Ivy Capital Management lowered its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 82.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 21,861 shares of the company's stock after selling 103,793 shares during the period. Neo Ivy Capital Management's holdings in Organon & Co. were worth $326,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new position in Organon & Co. during the 4th quarter valued at about $29,000. Larson Financial Group LLC boosted its stake in Organon & Co. by 345.4% during the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company's stock valued at $33,000 after purchasing an additional 1,734 shares during the last quarter. Riverview Trust Co boosted its stake in Organon & Co. by 117.7% during the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company's stock valued at $36,000 after purchasing an additional 1,292 shares during the last quarter. GeoWealth Management LLC acquired a new position in Organon & Co. during the 4th quarter valued at about $41,000. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Organon & Co. by 32.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company's stock valued at $41,000 after purchasing an additional 672 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company's stock.

Organon & Co. Stock Performance

Shares of NYSE:OGN traded up $0.43 during mid-day trading on Tuesday, reaching $9.12. The company had a trading volume of 6,116,678 shares, compared to its average volume of 3,256,913. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 2.74, a PEG ratio of 0.90 and a beta of 0.75. The company's 50-day moving average price is $11.40 and its 200-day moving average price is $13.97. Organon & Co. has a one year low of $8.01 and a one year high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.13. The company had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.53 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. Organon & Co.'s revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $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 announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be issued a dividend of $0.02 per share. The ex-dividend date is Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.88%. Organon & Co.'s payout ratio is 2.78%.

Insider Buying and Selling at Organon & Co.

In other Organon & Co. news, CFO Matthew M. Walsh bought 11,400 shares of the stock in a transaction on Monday, May 5th. The shares were acquired at an average price of $8.82 per share, with a total value of $100,548.00. Following the acquisition, the chief financial officer now directly owns 144,484 shares of the company's stock, valued at $1,274,348.88. The trade was a 8.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kirke Weaver bought 8,045 shares of the stock in a transaction on Tuesday, May 6th. The shares were acquired at an average cost of $9.21 per share, for a total transaction of $74,094.45. Following the acquisition, the insider now directly owns 52,489 shares in the company, valued at approximately $483,423.69. This trade represents a 18.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 102,345 shares of company stock valued at $902,430 in the last 90 days. 1.96% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley cut their target price on Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. Barclays cut their target price on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Evercore ISI downgraded Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. Finally, Piper Sandler cut their target price on Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price 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.