Optimist Retirement Group LLC Boosts Position in Organon & Co. (NYSE:OGN)

Optimist Retirement Group LLC lifted its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 248.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,834 shares of the company's stock after acquiring an additional 99,669 shares during the quarter. Optimist Retirement Group LLC owned 0.05% of Organon & Co. worth $2,082,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Millstone Evans Group LLC acquired a new stake in Organon & Co. during the fourth quarter worth about $29,000. GeoWealth Management LLC acquired a new stake in Organon & Co. during the fourth quarter worth about $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Organon & Co. during the first quarter worth about $60,000. GAMMA Investing LLC grew its position in Organon & Co. by 186.9% during the first quarter. GAMMA Investing LLC now owns 4,611 shares of the company's stock worth $69,000 after buying an additional 3,004 shares in the last quarter. Finally, Cary Street Partners Financial LLC acquired a new stake in Organon & Co. during the fourth quarter worth about $111,000. 77.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OGN has been the subject of a number of research analyst reports. Piper Sandler cut their target price on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Evercore ISI cut shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. BNP Paribas upgraded shares of Organon & Co. to a "strong-buy" rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley cut their target price on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating for the company in a research note on Monday, May 5th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

Organon & Co. Trading Up 3.4%

Shares of OGN stock traded up $0.34 during trading hours on Wednesday, hitting $10.16. 1,631,878 shares of the company's stock traded hands, compared to its average volume of 3,635,661. Organon & Co. has a 12 month low of $8.01 and a 12 month high of $23.10. The stock's 50 day simple moving average is $9.52 and its 200 day simple moving average is $12.49. The stock has a market cap of $2.64 billion, a PE ratio of 3.53, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The company has a quick ratio of 1.15, a current ratio of 1.67 and a debt-to-equity ratio of 16.49.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly 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. The business had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.53 billion. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. The firm's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 earnings per share. On average, sell-side 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. Shareholders of record on Monday, May 12th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Monday, May 12th. Organon & Co.'s payout ratio is 2.78%.

Insider Activity at Organon & Co.

In other Organon & Co. news, CFO Matthew M. Walsh purchased 11,400 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was bought at an average cost of $8.82 per share, with a total value of $100,548.00. Following the transaction, the chief financial officer directly owned 144,484 shares in the company, valued at approximately $1,274,348.88. The trade was a 8.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin Ali purchased 34,000 shares of Organon & Co. stock in a transaction dated Monday, May 5th. The stock was bought at an average price of $8.80 per share, with a total value of $299,200.00. Following the completion of the purchase, the chief executive officer directly owned 282,731 shares of the company's stock, valued at approximately $2,488,032.80. This trade represents a 13.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 102,345 shares of company stock valued at $902,430 over the last quarter. Company insiders own 1.40% 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.