Organon & Co. (NYSE:OGN) Shares Sold by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC sold 604,498 shares of Organon & Co., reducing its stake by 29.8% to 1,425,425 shares, valued at approximately $21.2 million.
• Analysts have mixed views on Organon & Co., with one upgrade to a "strong-buy" rating while others have lowered target prices, leading to a consensus rating of "Moderate Buy" with a target of $18.00.
• The company announced a quarterly dividend of $0.02 per share, with a yield of 0.8%, to be paid on September 11th to investors of record by August 15th.

Brandywine Global Investment Management LLC decreased its position in Organon & Co. (NYSE:OGN - Free Report) by 29.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,425,425 shares of the company's stock after selling 604,498 shares during the quarter. Brandywine Global Investment Management LLC owned 0.55% of Organon & Co. worth $21,225,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GeoWealth Management LLC acquired a new stake in Organon & Co. in the fourth quarter valued at approximately $41,000. PARK CIRCLE Co grew its position in Organon & Co. by 640.7% in the first quarter. PARK CIRCLE Co now owns 4,000 shares of the company's stock valued at $60,000 after acquiring an additional 3,460 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Organon & Co. in the first quarter valued at approximately $60,000. GAMMA Investing LLC grew its position in Organon & Co. by 186.9% in the first quarter. GAMMA Investing LLC now owns 4,611 shares of the company's stock valued at $69,000 after acquiring an additional 3,004 shares in the last quarter. Finally, Cary Street Partners Financial LLC acquired a new stake in Organon & Co. in the fourth quarter valued at approximately $111,000. Institutional investors and hedge funds own 77.43% of the company's stock.

Analyst Upgrades and Downgrades

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

Organon & Co. Stock Performance

Organon & Co. stock opened at $9.43 on Friday. The stock has a market cap of $2.45 billion, a P/E ratio of 3.51, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 11.98. The stock has a 50 day moving average of $9.75 and a 200-day moving average of $11.66. Organon & Co. has a 52 week low of $8.01 and a 52 week high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.06. Organon & Co. had a return on equity of 163.88% and a net margin of 11.15%. The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.55 billion. During the same period last year, the business posted $1.12 earnings per share. The firm's revenue for the quarter was down .8% on a year-over-year basis. On average, analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 15th will be paid a dividend of $0.02 per share. The ex-dividend date is Friday, August 15th. This represents a $0.08 annualized dividend and a yield of 0.8%. Organon & Co.'s dividend payout ratio (DPR) is 2.97%.

Organon & Co. 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.

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