Organon & Co. (NYSE:OGN) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its holdings in Organon & Co. (NYSE:OGN - Free Report) by 18.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 279,624 shares of the company's stock after purchasing an additional 44,424 shares during the quarter. Janney Montgomery Scott LLC owned about 0.11% of Organon & Co. worth $4,164,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Millstone Evans Group LLC purchased a new stake in shares of Organon & Co. in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC lifted its stake in Organon & Co. by 345.4% in the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company's stock valued at $33,000 after buying an additional 1,734 shares in the last quarter. Riverview Trust Co boosted its stake in shares of Organon & Co. by 117.7% during the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company's stock worth $36,000 after purchasing an additional 1,292 shares during the last quarter. GeoWealth Management LLC acquired a new position in Organon & Co. in the 4th quarter valued at $41,000. Finally, Jones Financial Companies Lllp grew its holdings 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 valued at $68,000 after buying an additional 4,310 shares during the period. Institutional investors and hedge funds own 77.43% of the company's stock.

Organon & Co. Price Performance

Shares of NYSE:OGN opened at $9.82 on Tuesday. The business has a 50-day moving average of $9.86 and a two-hundred day moving average of $13.16. The company has a debt-to-equity ratio of 16.49, a current ratio of 1.67 and a quick ratio of 1.15. 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 capitalization of $2.55 billion, a P/E ratio of 3.41, a P/E/G ratio of 1.02 and a beta of 0.59.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.13. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.53 billion. Organon & Co. had a return on equity of 227.43% and a net margin of 11.92%. The company's quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 earnings per share. On average, equities research analysts predict that Organon & Co. will post 3.68 EPS for the current fiscal 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 given a dividend of $0.02 per share. The ex-dividend date was Monday, May 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.81%. Organon & Co.'s dividend payout ratio (DPR) is currently 2.78%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OGN. BNP Paribas upgraded Organon & Co. to a "strong-buy" rating in a research note on Thursday, May 22nd. Morgan Stanley cut their target price on Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Piper Sandler cut their target price on Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Finally, Evercore ISI cut shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $18.00.

Insider Buying and Selling

In other news, insider Kirke Weaver acquired 8,045 shares of Organon & Co. stock in a transaction on Tuesday, May 6th. The shares were purchased at an average price of $9.21 per share, with a total value of $74,094.45. Following the acquisition, the insider now owns 52,489 shares in the company, valued at $483,423.69. This represents a 18.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew M. Walsh purchased 11,400 shares of the stock in a transaction dated Monday, May 5th. The shares were acquired at an average price of $8.82 per share, with a total value of $100,548.00. Following the transaction, the chief financial officer now owns 144,484 shares in the company, valued at $1,274,348.88. This trade represents a 8.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 102,345 shares of company stock worth $902,430 in the last 90 days. 1.40% of the stock is 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.

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