Acorn Financial Advisory Services Inc. ADV Increases Position in Organon & Co. (NYSE:OGN)

Acorn Financial Advisory Services Inc. ADV increased its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 44.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,972 shares of the company's stock after buying an additional 30,797 shares during the period. Acorn Financial Advisory Services Inc. ADV's holdings in Organon & Co. were worth $1,489,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its holdings in Organon & Co. by 70.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 32,278 shares of the company's stock worth $482,000 after acquiring an additional 13,379 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Organon & Co. during the 4th quarter worth approximately $394,000. Smartleaf Asset Management LLC grew its holdings in Organon & Co. by 95.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 6,169 shares of the company's stock worth $90,000 after acquiring an additional 3,012 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Organon & Co. by 1,795.8% during the 4th quarter. Jones Financial Companies Lllp now owns 4,550 shares of the company's stock worth $68,000 after acquiring an additional 4,310 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Organon & Co. during the 4th quarter worth approximately $97,000. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Stock Down 2.2%

Shares of Organon & Co. stock traded down $0.22 during trading hours on Monday, hitting $9.74. The company had a trading volume of 2,585,021 shares, compared to its average volume of 3,542,056. The company's 50-day moving average is $9.55 and its two-hundred day moving average is $12.81. Organon & Co. has a twelve month low of $8.01 and a twelve month 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 company has a market cap of $2.53 billion, a P/E ratio of 3.38, a price-to-earnings-growth ratio of 1.02 and a beta of 0.60.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.13. The firm had revenue of $1.51 billion during 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%. Organon & Co.'s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 EPS. Analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Monday, May 12th. Organon & Co.'s dividend payout ratio is currently 2.78%.

Analyst Upgrades and Downgrades

Several research analysts have commented on OGN shares. Morgan Stanley lowered their price target on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. Piper Sandler lowered their target price on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. BNP Paribas upgraded shares of Organon & Co. to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, Evercore ISI cut shares of Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

Insider Buying and Selling at Organon & Co.

In other news, insider Kirke Weaver acquired 8,045 shares of the business's stock in a transaction on 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 transaction, the insider owned 52,489 shares in the company, valued at $483,423.69. This represents a 18.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kevin Ali acquired 34,000 shares of the business's stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $8.80 per share, with a total value of $299,200.00. Following the transaction, the chief executive officer owned 282,731 shares in the company, valued at $2,488,032.80. The trade was a 13.67% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 102,345 shares of company stock worth $902,430 in the last quarter. 1.40% of the stock is currently owned by company insiders.

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.