Cerity Partners LLC Purchases 501,959 Shares of Organon & Co. (NYSE:OGN)

Cerity Partners LLC lifted its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 77.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,153,044 shares of the company's stock after acquiring an additional 501,959 shares during the period. Cerity Partners LLC owned approximately 0.44% of Organon & Co. worth $17,169,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Alps Advisors Inc. raised its position in Organon & Co. by 7.8% in the 1st quarter. Alps Advisors Inc. now owns 898,554 shares of the company's stock worth $13,379,000 after purchasing an additional 64,670 shares during the period. Sharpepoint LLC increased its position in shares of Organon & Co. by 33.7% in the first quarter. Sharpepoint LLC now owns 56,363 shares of the company's stock valued at $839,000 after acquiring an additional 14,214 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Organon & Co. by 6.8% in the first quarter. Nisa Investment Advisors LLC now owns 42,727 shares of the company's stock valued at $636,000 after acquiring an additional 2,708 shares during the period. M&T Bank Corp increased its position in shares of Organon & Co. by 3.4% in the first quarter. M&T Bank Corp now owns 55,990 shares of the company's stock valued at $833,000 after acquiring an additional 1,854 shares during the period. Finally, Brown Advisory Inc. increased its position in shares of Organon & Co. by 6.5% in the first quarter. Brown Advisory Inc. now owns 30,174 shares of the company's stock valued at $449,000 after acquiring an additional 1,835 shares during the period. 77.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on OGN. BNP Paribas upgraded shares of Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. Morgan Stanley reduced their price target on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. Evercore ISI cut shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. Finally, Piper Sandler reduced their price target on shares of 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 equities 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 assigned a strong buy rating to the company. According to data from MarketBeat, Organon & Co. currently has an average rating of "Moderate Buy" and a consensus target price of $18.00.

Insider Buying and Selling at Organon & Co.

In other Organon & Co. news, VP Daniel Karp acquired 3,500 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $8.24 per share, with a total value of $28,840.00. Following the completion of the purchase, the vice president directly owned 46,669 shares of the company's stock, valued at approximately $384,552.56. The trade was a 8.11% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kirke Weaver acquired 8,045 shares of the company's stock in a transaction that occurred 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 purchase, the insider directly owned 52,489 shares of the company's stock, valued at $483,423.69. This represents a 18.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 102,345 shares of company stock worth $902,430. Insiders own 1.40% of the company's stock.

Organon & Co. Stock Down 2.4%

NYSE:OGN traded down $0.24 during mid-day trading on Tuesday, hitting $9.58. 3,474,770 shares of the company's stock were exchanged, compared to its average volume of 3,593,260. Organon & Co. has a one year low of $8.01 and a one year high of $23.10. The company has a debt-to-equity ratio of 16.49, a current ratio of 1.67 and a quick ratio of 1.15. The business has a fifty day moving average price of $9.47 and a 200 day moving average price of $12.64. The company has a market cap of $2.49 billion, a PE ratio of 3.32, a P/E/G ratio of 1.02 and a beta of 0.60.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.89 by $0.13. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. The business 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 firm posted $1.22 earnings per share. Organon & Co.'s quarterly revenue was down 6.7% on a year-over-year basis. Equities analysts predict 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 was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.84%. The ex-dividend date was Monday, May 12th. Organon & Co.'s payout ratio is currently 2.78%.

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.