LSV Asset Management Purchases 455,699 Shares of Organon & Co. (NYSE:OGN)

Key Points

• LSV Asset Management has increased its stake in Organon & Co. by 6.1%, now owning nearly 8 million shares valued at approximately $118.8 million.
• Insider trading activity includes CEO Kevin Ali purchasing 34,000 shares at $8.80 each, indicating a 13.67% increase in ownership.
• Analysts have mixed ratings on Organon & Co., with target prices ranging from $10.00 to $24.00 and an overall average rating of "Moderate Buy."

LSV Asset Management grew its position in Organon & Co. (NYSE:OGN - Free Report) by 6.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,980,775 shares of the company's stock after buying an additional 455,699 shares during the period. LSV Asset Management owned approximately 3.07% of Organon & Co. worth $118,834,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Organon & Co. by 8.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,715,445 shares of the company's stock valued at $159,553,000 after purchasing an additional 820,378 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in shares of Organon & Co. by 7.0% during the fourth quarter. Deprince Race & Zollo Inc. now owns 4,729,258 shares of the company's stock valued at $70,561,000 after purchasing an additional 308,267 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Organon & Co. by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,260,218 shares of the company's stock valued at $63,582,000 after purchasing an additional 12,110 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Organon & Co. by 23.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,284,408 shares of the company's stock valued at $48,999,000 after buying an additional 629,191 shares during the period. Finally, Private Management Group Inc. grew its position in Organon & Co. by 1.1% during the first quarter. Private Management Group Inc. now owns 2,142,010 shares of the company's stock valued at $31,895,000 after buying an additional 22,722 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Price Performance

Shares of OGN stock traded down $0.02 during mid-day trading on Thursday, hitting $8.71. The company had a trading volume of 923,325 shares, compared to its average volume of 4,490,694. Organon & Co. has a 52-week low of $8.01 and a 52-week high of $23.10. The stock's 50 day moving average price is $9.77 and its 200-day moving average price is $11.99. The company has a debt-to-equity ratio of 16.49, a current ratio of 1.67 and a quick ratio of 1.15. The company has a market capitalization of $2.26 billion, a P/E ratio of 3.24, a P/E/G ratio of 0.87 and a beta of 0.60.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.06. Organon & Co. had a net margin of 11.15% and a return on equity of 182.69%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm posted $1.12 earnings per share. The business's revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts forecast that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 15th will be issued a $0.02 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.9%. Organon & Co.'s dividend payout ratio is presently 2.78%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on OGN. Piper Sandler dropped their price target on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating for the company in a research report on Thursday, May 15th. BNP Paribas upgraded shares of Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. Evercore ISI lowered shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley dropped their price target on shares of 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. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Organon & Co. currently has an average rating of "Moderate Buy" and a consensus target price 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.