MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 34,702 Shares of Organon & Co. (NYSE:OGN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,114 shares of the company's stock after purchasing an additional 34,702 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Organon & Co. were worth $1,553,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Organon & Co. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,401,709 shares of the company's stock valued at $453,593,000 after acquiring an additional 218,165 shares in the last quarter. Pacer Advisors Inc. lifted its position in Organon & Co. by 94,482.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock worth $166,391,000 after buying an additional 11,140,388 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Organon & Co. by 1.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,895,067 shares of the company's stock worth $147,634,000 after buying an additional 136,760 shares in the last quarter. LSV Asset Management lifted its position in Organon & Co. by 0.4% during the 4th quarter. LSV Asset Management now owns 7,525,076 shares of the company's stock worth $112,274,000 after buying an additional 30,557 shares in the last quarter. Finally, Deprince Race & Zollo Inc. lifted its position in Organon & Co. by 7.0% during the 4th quarter. Deprince Race & Zollo Inc. now owns 4,729,258 shares of the company's stock worth $70,561,000 after buying an additional 308,267 shares in the last quarter. 77.43% of the stock is owned by institutional investors.

Organon & Co. Stock Performance

OGN traded up $0.37 on Thursday, reaching $9.52. The company had a trading volume of 2,061,596 shares, compared to its average volume of 4,616,539. Organon & Co. has a fifty-two week low of $8.01 and a fifty-two week high of $23.10. The stock has a market cap of $2.48 billion, a P/E ratio of 2.87, a P/E/G ratio of 0.90 and a beta of 0.75. The company's fifty day moving average is $11.15 and its 200 day moving average is $13.91. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.13. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. 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 prior year, the business earned $1.22 EPS. Organon & Co.'s quarterly revenue was down 6.7% on a year-over-year basis. As a group, analysts predict that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.84%. Organon & Co.'s dividend payout ratio is 2.78%.

Analyst Ratings Changes

Several brokerages have commented on OGN. Piper Sandler cut 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. Barclays cut their price target on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. BNP Paribas raised shares of Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. Morgan Stanley dropped their target price on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. Finally, Evercore ISI cut shares of Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $18.00.

Insider Buying and Selling

In other news, VP Daniel Karp purchased 3,500 shares of Organon & Co. stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $8.24 per share, for a total transaction of $28,840.00. Following the transaction, the vice president now owns 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Matthew M. Walsh purchased 11,400 shares of Organon & Co. stock in a transaction that occurred on Monday, May 5th. The shares were purchased at an average price of $8.82 per share, for a total transaction of $100,548.00. Following the transaction, the chief financial officer now directly owns 144,484 shares in the company, valued at $1,274,348.88. This 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. Company 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.