Raymond James Financial Inc. Buys 37,018 Shares of Organon & Co. $OGN

Key Points

• Raymond James Financial Inc. increased its holdings in Organon & Co. by 13.2% during the first quarter, owning a total of 318,128 shares valued at approximately $4.74 million.
• Analysts have set a consensus target price of $17.33 for Organon & Co., with ratings varying from "Strong Buy" to "Hold" across five different analyst evaluations.
• Organon & Co. announced a quarterly dividend of $0.02 per share, representing a 0.8% annualized dividend yield, scheduled for payment on September 11th.

Raymond James Financial Inc. grew its position in Organon & Co. (NYSE:OGN - Free Report) by 13.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 318,128 shares of the company's stock after purchasing an additional 37,018 shares during the quarter. Raymond James Financial Inc. owned approximately 0.12% of Organon & Co. worth $4,737,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of OGN. Hsbc Holdings PLC grew its stake in shares of Organon & Co. by 13.9% in the fourth quarter. Hsbc Holdings PLC now owns 13,922 shares of the company's stock worth $208,000 after acquiring an additional 1,703 shares during the last quarter. Northern Trust Corp grew its stake in shares of Organon & Co. by 17.9% in the fourth quarter. Northern Trust Corp now owns 1,914,115 shares of the company's stock worth $28,559,000 after acquiring an additional 290,134 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of Organon & Co. by 195.2% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 63,669 shares of the company's stock worth $950,000 after acquiring an additional 42,103 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Organon & Co. in the fourth quarter worth $2,443,000. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Organon & Co. in the fourth quarter worth $111,000. Institutional investors own 77.43% of the company's stock.

Organon & Co. Price Performance

Shares of NYSE:OGN traded down $0.11 during trading on Tuesday, reaching $10.37. The stock had a trading volume of 2,883,841 shares, compared to its average volume of 4,440,248. The stock has a market capitalization of $2.69 billion, a PE ratio of 3.85, a P/E/G ratio of 0.95 and a beta of 0.60. The company has a debt-to-equity ratio of 11.98, a current ratio of 1.65 and a quick ratio of 1.13. Organon & Co. has a 52 week low of $8.01 and a 52 week high of $21.06. The business's 50-day moving average price is $9.60 and its 200 day moving average price is $10.96.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.55 billion. During the same period last year, the firm posted $1.12 EPS. The business's revenue was down .8% on a year-over-year basis. Organon & Co. has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.8%. Organon & Co.'s dividend payout ratio is currently 2.97%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. BNP Paribas upgraded shares of Organon & Co. to a "strong-buy" rating in a research note on Thursday, May 22nd. 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. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $17.33.

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.