Organon & Co. (NYSE:OGN) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC decreased its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 48.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,332 shares of the company's stock after selling 128,734 shares during the period. Squarepoint Ops LLC owned approximately 0.05% of Organon & Co. worth $2,019,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Millstone Evans Group LLC acquired a new position in Organon & Co. during the fourth quarter worth about $29,000. Larson Financial Group LLC boosted its stake in shares of Organon & Co. by 345.4% during the 4th 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 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 acquiring an additional 1,292 shares in the last quarter. GeoWealth Management LLC acquired a new stake in shares of Organon & Co. in the 4th quarter worth approximately $41,000. Finally, WFA Asset Management Corp purchased a new position in Organon & Co. in the 4th quarter valued at approximately $68,000. Institutional investors and hedge funds own 77.43% of the company's stock.

Organon & Co. Price Performance

Shares of NYSE:OGN traded down $0.01 on Monday, hitting $9.22. The company had a trading volume of 5,595,017 shares, compared to its average volume of 3,320,912. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. Organon & Co. has a 52-week low of $8.01 and a 52-week high of $23.10. The business has a 50 day moving average of $10.81 and a 200 day moving average of $13.75. The company has a market cap of $2.40 billion, a PE ratio of 2.77, a PEG ratio of 0.90 and a beta of 0.75.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.02 EPS 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 return on equity of 431.62% and a net margin of 13.49%. The firm's quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 EPS. As a group, equities analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, May 12th. Organon & Co.'s dividend payout ratio is presently 2.78%.

Insider Activity

In other Organon & Co. news, CEO Kevin Ali purchased 34,000 shares of the stock in a transaction on Monday, May 5th. The stock was bought at an average price of $8.80 per share, for a total transaction of $299,200.00. Following the acquisition, the chief executive officer now directly owns 282,731 shares of the company's stock, valued at $2,488,032.80. This represents a 13.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, VP Daniel Karp acquired 3,500 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were bought at an average cost of $8.24 per share, with a total value of $28,840.00. Following the purchase, the vice president now owns 46,669 shares in the company, valued at approximately $384,552.56. The trade was a 8.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 102,345 shares of company stock valued at $902,430 over the last 90 days. Insiders own 1.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on OGN. Morgan Stanley decreased their target price on Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. Barclays dropped their price target on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Evercore ISI lowered shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. Piper Sandler lowered their price objective on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Finally, BNP Paribas upgraded shares of Organon & Co. to a "strong-buy" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $18.00.

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.