Northern Trust Corp Grows Stock Holdings in Organon & Co. $OGN

Key Points

• Northern Trust Corp increased its ownership in Organon & Co. by 7.4%, now holding approximately 2,056,416 shares valued at $30.62 million.
• Organon & Co. reported an earnings per share (EPS) of $1.00 for the last quarter, surpassing analysts' expectations of $0.94, despite a 0.8% decline in quarterly revenue year-over-year.
• The company has declared a quarterly dividend of $0.02 per share, which will be paid on September 11th, representing an annual yield of 0.9%.

Northern Trust Corp boosted its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,056,416 shares of the company's stock after acquiring an additional 142,301 shares during the period. Northern Trust Corp owned approximately 0.79% of Organon & Co. worth $30,620,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hsbc Holdings PLC raised its stake in shares of Organon & Co. by 13.9% in the 4th quarter. Hsbc Holdings PLC now owns 13,922 shares of the company's stock valued at $208,000 after purchasing an additional 1,703 shares during the period. NBC Securities Inc. increased its position in Organon & Co. by 111,262.5% during the first quarter. NBC Securities Inc. now owns 8,909 shares of the company's stock worth $132,000 after buying an additional 8,901 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Organon & Co. by 42.2% during the first quarter. Sequoia Financial Advisors LLC now owns 19,392 shares of the company's stock worth $289,000 after buying an additional 5,758 shares during the last quarter. M&T Bank Corp increased its position in Organon & Co. by 3.4% during the first quarter. M&T Bank Corp now owns 55,990 shares of the company's stock worth $833,000 after buying an additional 1,854 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in Organon & Co. by 62.7% during the fourth quarter. Cetera Investment Advisers now owns 76,005 shares of the company's stock worth $1,134,000 after buying an additional 29,287 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company's stock.

Organon & Co. Trading Down 1.8%

NYSE:OGN traded down $0.18 during trading hours on Thursday, hitting $9.66. 1,270,328 shares of the company were exchanged, compared to its average volume of 4,434,777. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 3.59, a price-to-earnings-growth ratio of 0.86 and a beta of 0.60. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 11.98. Organon & Co. has a one year low of $8.01 and a one year high of $22.42. The company has a fifty day simple moving average of $9.59 and a 200 day simple moving average of $11.13.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.06. Organon & Co. had a return on equity of 163.88% and a net margin of 11.15%.The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the business posted $1.12 EPS. The business's revenue was down .8% compared to the same quarter last year. Organon & Co. has set its FY 2025 guidance at EPS. Sell-side analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.8%. Organon & Co.'s payout ratio is 2.97%.

Wall Street Analysts Forecast Growth

OGN has been the topic of several research reports. BNP Paribas raised Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. Piper Sandler cut their price target on Organon & Co. from $24.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.