Alps Advisors Inc. Purchases 64,670 Shares of Organon & Co. (NYSE:OGN)

Alps Advisors Inc. raised its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 7.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 898,554 shares of the company's stock after purchasing an additional 64,670 shares during the quarter. Alps Advisors Inc. owned 0.35% of Organon & Co. worth $13,379,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Millstone Evans Group LLC purchased a new stake in Organon & Co. during the 4th quarter valued at approximately $29,000. Larson Financial Group LLC boosted its position in shares of Organon & Co. by 345.4% during the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company's stock worth $33,000 after acquiring an additional 1,734 shares during the last quarter. GeoWealth Management LLC purchased a new position in Organon & Co. during the fourth quarter valued at $41,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Organon & Co. in the 1st quarter valued at $60,000. Finally, Jones Financial Companies Lllp lifted its stake in Organon & Co. by 1,795.8% in the 4th quarter. Jones Financial Companies Lllp now owns 4,550 shares of the company's stock worth $68,000 after purchasing an additional 4,310 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Kevin Ali bought 34,000 shares of the company's stock in a transaction on Monday, May 5th. The shares were acquired at an average cost of $8.80 per share, for a total transaction of $299,200.00. Following the purchase, the chief executive officer directly owned 282,731 shares of the company's stock, valued at approximately $2,488,032.80. The trade was a 13.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kirke Weaver purchased 8,045 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were bought at an average cost of $9.21 per share, with a total value of $74,094.45. Following the purchase, the insider directly owned 52,489 shares of the company's stock, valued at approximately $483,423.69. This represents a 18.10% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 102,345 shares of company stock valued at $902,430. Corporate insiders own 1.96% of the company's stock.

Wall Street Analyst Weigh In

A number of 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 report on Friday, May 2nd. Morgan Stanley decreased their price objective on Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. 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 report on Thursday, May 15th. Finally, BNP Paribas raised shares of Organon & Co. to a "strong-buy" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $18.00.

Organon & Co. Trading Down 0.8%

NYSE:OGN traded down $0.08 during midday trading on Friday, hitting $9.94. 3,566,519 shares of the company traded hands, compared to its average volume of 3,580,804. 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 firm's fifty day moving average is $9.44 and its 200-day moving average is $12.74. The firm has a market capitalization of $2.58 billion, a P/E ratio of 2.77, a P/E/G ratio of 1.02 and a beta of 0.60. 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 earnings results on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.13. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates 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 last year, the business earned $1.22 EPS. On average, sell-side analysts predict that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were paid a dividend of $0.02 per share. The ex-dividend date was Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.80%. Organon & Co.'s dividend payout ratio is 2.78%.

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.