Victory Capital Management Inc. Grows Stock Position in Organon & Co. (NYSE:OGN)

Key Points

• Victory Capital Management Inc. increased its stake in Organon & Co. by 81.7%, owning 401,967 shares valued at approximately $5.99 million as of the latest SEC filing.
• CEO Kevin Ali purchased 34,000 shares of Organon at an average price of $8.80 per share, increasing his ownership by 13.67%.
• Analysts have mixed views on Organon & Co., with Morgan Stanley lowering its price target from $15 to $10, while BNP Paribas upgraded it to a "strong-buy" rating.

Victory Capital Management Inc. grew its position in Organon & Co. (NYSE:OGN - Free Report) by 81.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 401,967 shares of the company's stock after acquiring an additional 180,689 shares during the period. Victory Capital Management Inc. owned 0.15% of Organon & Co. worth $5,985,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Xponance Inc. bought a new position in shares of Organon & Co. during the fourth quarter worth $179,000. Teacher Retirement System of Texas increased its stake in Organon & Co. by 18.2% in the 4th quarter. Teacher Retirement System of Texas now owns 76,264 shares of the company's stock valued at $1,138,000 after buying an additional 11,763 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Organon & Co. by 4.3% during the 4th quarter. American Century Companies Inc. now owns 42,948 shares of the company's stock worth $641,000 after purchasing an additional 1,777 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Organon & Co. during the fourth quarter worth approximately $812,000. Finally, LPL Financial LLC boosted its holdings in Organon & Co. by 160.7% in the 4th quarter. LPL Financial LLC now owns 457,687 shares of the company's stock valued at $6,829,000 after purchasing an additional 282,150 shares during the period. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Organon & Co.

In other news, VP Daniel Karp acquired 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $8.24 per share, for a total transaction of $28,840.00. Following the completion of the acquisition, the vice president directly owned 46,669 shares of the company's stock, valued at $384,552.56. The trade was a 8.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kirke Weaver bought 8,045 shares of Organon & Co. stock in a transaction on Tuesday, May 6th. The stock was purchased at an average price of $9.21 per share, with a total value of $74,094.45. Following the completion of the acquisition, the insider directly owned 52,489 shares of the company's stock, valued at $483,423.69. This represents a 18.10% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 102,345 shares of company stock valued at $902,430. 1.96% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

OGN has been the subject of a number of recent analyst reports. Morgan Stanley cut 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 report on Monday, May 5th. Piper Sandler lowered their price objective 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. 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 equities 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

Organon & Co. Price Performance

Organon & Co. stock traded up $0.11 during mid-day trading on Friday, hitting $10.18. 2,176,057 shares of the company traded hands, compared to its average volume of 3,550,920. The stock has a fifty day moving average price of $9.66 and a 200-day moving average price of $12.32. Organon & Co. has a one year low of $8.01 and a one year high of $23.10. The company has a debt-to-equity ratio of 16.49, a quick ratio of 1.15 and a current ratio of 1.67. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 2.82, a price-to-earnings-growth ratio of 1.06 and a beta of 0.60.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.13. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. 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 firm earned $1.22 EPS. On average, equities analysts predict that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Monday, May 12th. Organon & Co.'s dividend payout ratio (DPR) is presently 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.