Sippican Capital Advisors increased its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 92.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,076 shares of the company's stock after purchasing an additional 33,724 shares during the quarter. Sippican Capital Advisors' holdings in Organon & Co. were worth $1,043,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the stock. Hsbc Holdings PLC boosted its stake in shares of Organon & Co. by 13.9% during the 4th quarter. Hsbc Holdings PLC now owns 13,922 shares of the company's stock worth $208,000 after purchasing an additional 1,703 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Organon & Co. by 28.6% in the fourth quarter. Wells Fargo & Company MN now owns 262,746 shares of the company's stock valued at $3,920,000 after purchasing an additional 58,378 shares during the period. NBC Securities Inc. boosted its holdings in shares of Organon & Co. by 111,262.5% in the first quarter. NBC Securities Inc. now owns 8,909 shares of the company's stock valued at $132,000 after purchasing an additional 8,901 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Organon & Co. by 44.2% in the fourth quarter. Wellington Management Group LLP now owns 32,966 shares of the company's stock valued at $492,000 after purchasing an additional 10,108 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Organon & Co. in the 4th quarter worth $4,194,000. 77.43% of the stock is owned by hedge funds and other institutional investors.
Organon & Co. Price Performance
OGN stock traded down $0.08 during mid-day trading on Friday, reaching $10.08. The company's stock had a trading volume of 2,377,417 shares, compared to its average volume of 3,539,265. Organon & Co. has a fifty-two week low of $8.01 and a fifty-two week high of $23.10. The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 16.49. The stock has a market cap of $2.62 billion, a PE ratio of 3.50, a P/E/G ratio of 1.04 and a beta of 0.60. The company's 50 day moving average is $9.61 and its two-hundred day moving average is $12.87.
Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.13. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm earned $1.22 EPS. The business's revenue was down 6.7% compared to the same quarter last year. 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 paid a $0.02 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.79%. Organon & Co.'s dividend payout ratio (DPR) is 2.78%.
Insider Buying and Selling
In other Organon & Co. news, CFO Matthew M. Walsh purchased 11,400 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average price of $8.82 per share, for a total transaction of $100,548.00. Following the purchase, the chief financial officer directly owned 144,484 shares in the company, valued at approximately $1,274,348.88. This trade represents a 8.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin Ali bought 34,000 shares of Organon & Co. stock in a transaction dated Monday, May 5th. The stock was purchased at an average price of $8.80 per share, with a total value of $299,200.00. Following the purchase, the chief executive officer directly owned 282,731 shares in the company, valued at approximately $2,488,032.80. This trade represents a 13.67% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 102,345 shares of company stock valued at $902,430. Company insiders own 1.96% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on OGN. Evercore ISI downgraded shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. Piper Sandler cut their price target on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Morgan Stanley cut their price target on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. Finally, BNP Paribas raised shares of Organon & Co. to a "strong-buy" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $18.00.
Read Our Latest Stock Analysis on Organon & Co.
Organon & Co. Profile
(
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.
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