Optimist Retirement Group LLC Raises Stock Holdings in Organon & Co. (NYSE:OGN)

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

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Millstone Evans Group LLC acquired a new position in shares of Organon & Co. in the 4th quarter worth $29,000. GeoWealth Management LLC acquired a new stake in Organon & Co. during the fourth quarter valued at $41,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Organon & Co. in the first quarter worth about $60,000. GAMMA Investing LLC lifted its position in shares of Organon & Co. by 186.9% in 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 during the last quarter. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Organon & Co. in the fourth quarter worth about $111,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OGN shares. Evercore ISI lowered Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. Morgan Stanley dropped their price objective 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. Piper Sandler lowered their target price on Organon & Co. from $24.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Finally, BNP Paribas upgraded Organon & Co. to a "strong-buy" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Organon & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

Insider Activity

In related news, insider Kirke Weaver purchased 8,045 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $9.21 per share, for a total transaction of $74,094.45. Following the purchase, the insider directly owned 52,489 shares in the company, valued at approximately $483,423.69. This trade represents a 18.10% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew M. Walsh acquired 11,400 shares of the business's stock in a transaction that occurred 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 completion of the acquisition, the chief financial officer owned 144,484 shares in the company, valued at $1,274,348.88. This trade represents a 8.57% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 102,345 shares of company stock worth $902,430. Corporate insiders own 1.96% of the company's stock.

Organon & Co. Stock Down 1.9%

Shares of OGN opened at $9.46 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 16.49. The company has a market capitalization of $2.46 billion, a PE ratio of 3.28, a PEG ratio of 0.98 and a beta of 0.60. The stock's 50-day moving average price is $9.52 and its two-hundred day moving average price is $12.51. Organon & Co. has a 12 month low of $8.01 and a 12 month high of $23.10.

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 (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 11.92% and a return on equity of 227.43%. The business's revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 EPS. On average, 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 paid a $0.02 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.08 annualized dividend and a yield of 0.85%. Organon & Co.'s dividend payout ratio (DPR) is 2.78%.

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.

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