Vanguard Group Inc. Has $442.26 Million Stock Position in Organon & Co. (NYSE:OGN)

Key Points

• Vanguard Group Inc. reduced its stake in Organon & Co. by selling 699,976 shares, resulting in ownership of approximately 29.7 million shares, about 11.43% of the company.
• Multiple institutional investors, including Massachusetts Financial Services and LSV Asset Management, have increased their holdings in Organon in recent quarters, further indicating interest in the stock.
• Analysts have mixed sentiments about Organon, with price targets ranging from $10.00 to $24.00 and a consensus rating of "Moderate Buy."

Vanguard Group Inc. lowered its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,701,733 shares of the company's stock after selling 699,976 shares during the period. Vanguard Group Inc. owned about 11.43% of Organon & Co. worth $442,259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its position 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 valued at $159,553,000 after purchasing an additional 820,378 shares during the last quarter. LSV Asset Management grew its holdings in shares of Organon & Co. by 6.1% during the 1st quarter. LSV Asset Management now owns 7,980,775 shares of the company's stock worth $118,834,000 after acquiring an additional 455,699 shares during the period. Deprince Race & Zollo Inc. grew its holdings in shares of Organon & Co. by 7.0% during the 4th quarter. Deprince Race & Zollo Inc. now owns 4,729,258 shares of the company's stock worth $70,561,000 after acquiring an additional 308,267 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Organon & Co. by 23.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,284,408 shares of the company's stock worth $48,999,000 after acquiring an additional 629,191 shares during the period. Finally, Private Management Group Inc. grew its holdings in shares of Organon & Co. by 1.1% during the 1st quarter. Private Management Group Inc. now owns 2,142,010 shares of the company's stock worth $31,895,000 after acquiring an additional 22,722 shares during the period. Institutional investors own 77.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Piper Sandler lowered their price target on 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 decreased their target price on Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. BNP Paribas raised Organon & Co. to a "strong-buy" rating in a report on Thursday, May 22nd. Finally, Evercore ISI cut Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday, May 2nd. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.00.

Organon & Co. Price Performance

OGN traded up $0.04 on Friday, hitting $9.43. 3,048,686 shares of the company were exchanged, compared to its average volume of 4,728,349. The business's fifty day moving average is $9.75 and its 200 day moving average is $11.60. The firm has a market capitalization of $2.45 billion, a P/E ratio of 3.51, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. Organon & Co. has a fifty-two week low of $8.01 and a fifty-two week high of $23.10. The company has a debt-to-equity ratio of 11.98, a quick ratio of 1.13 and a current ratio of 1.65.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.06. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.55 billion. Organon & Co. had a net margin of 11.15% and a return on equity of 163.88%. The business's revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.12 EPS. As a group, sell-side analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

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

About Organon & Co.

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.