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Victory Capital Management Inc. Purchases 180,689 Shares of Organon & Co. (NYSE:OGN)

Organon & Co. logo with Medical background

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.
  • Want stock alerts on Organon & Co.? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Victory Capital Management Inc. increased its position in Organon & Co. (NYSE:OGN - Free Report) by 81.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 401,967 shares of the company's stock after acquiring an additional 180,689 shares during the quarter. Victory Capital Management Inc. owned about 0.15% of Organon & Co. worth $5,985,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in OGN. Vanguard Group Inc. lifted its holdings in shares of Organon & Co. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,401,709 shares of the company's stock worth $453,593,000 after purchasing an additional 218,165 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Organon & Co. by 8.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,715,445 shares of the company's stock worth $159,553,000 after acquiring an additional 820,378 shares in the last quarter. LSV Asset Management increased its holdings in Organon & Co. by 0.4% during the 4th quarter. LSV Asset Management now owns 7,525,076 shares of the company's stock worth $112,274,000 after purchasing an additional 30,557 shares during the period. Deprince Race & Zollo Inc. grew its stake in shares of Organon & Co. by 7.0% in the 4th 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. Finally, Geode Capital Management LLC boosted its stake in shares of Organon & Co. by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 4,260,218 shares of the company's stock valued at $63,582,000 after buying an additional 12,110 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Organon & Co. news, insider Kirke Weaver acquired 8,045 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average price of $9.21 per share, with a total value of $74,094.45. Following the purchase, the insider owned 52,489 shares in the company, valued at approximately $483,423.69. The trade was 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 through the SEC website. Also, CEO Kevin Ali bought 34,000 shares of Organon & Co. stock in a transaction on Monday, May 5th. The shares were acquired at an average price of $8.80 per share, for a total transaction of $299,200.00. Following the completion of the acquisition, the chief executive officer owned 282,731 shares in the company, valued at $2,488,032.80. This represents a 13.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 102,345 shares of company stock worth $902,430. 1.96% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Morgan Stanley dropped 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. Piper Sandler decreased their price target 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. BNP Paribas upgraded Organon & Co. to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, Evercore ISI lowered Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $18.00.

Read Our Latest Stock Analysis on OGN

Organon & Co. Stock Performance

Shares of OGN traded down $0.01 during mid-day trading on Tuesday, hitting $9.97. The stock had a trading volume of 562,741 shares, compared to its average volume of 4,401,917. The business has a fifty day moving average price of $9.67 and a 200-day moving average price of $12.25. 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 52 week low of $8.01 and a 52 week high of $23.10. The firm has a market cap of $2.59 billion, a P/E ratio of 3.45, a PEG ratio of 1.06 and a beta of 0.60.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.13. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates 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 business earned $1.22 EPS. On average, equities research analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.80%. The ex-dividend date was Monday, May 12th. Organon & Co.'s payout ratio is 2.78%.

About Organon & Co.

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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