Organon & Co. $OGN Shares Sold by Vanguard Group Inc.

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

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in Organon & Co. by 1.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 217,417 shares of the company's stock valued at $3,237,000 after buying an additional 2,074 shares during the period. LSV Asset Management increased its stake in Organon & Co. by 6.1% in the first quarter. LSV Asset Management now owns 7,980,775 shares of the company's stock worth $118,834,000 after purchasing an additional 455,699 shares during the period. Natixis Advisors LLC increased its stake in Organon & Co. by 69.1% in the first quarter. Natixis Advisors LLC now owns 52,263 shares of the company's stock worth $778,000 after purchasing an additional 21,358 shares during the period. Federated Hermes Inc. increased its stake in Organon & Co. by 10.9% in the first quarter. Federated Hermes Inc. now owns 83,942 shares of the company's stock worth $1,250,000 after purchasing an additional 8,265 shares during the period. Finally, Meeder Advisory Services Inc. increased its stake in Organon & Co. by 31.7% in the first quarter. Meeder Advisory Services Inc. now owns 25,433 shares of the company's stock worth $379,000 after purchasing an additional 6,122 shares during the period. Hedge funds and other institutional investors own 77.43% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on OGN shares. Evercore ISI lowered Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. Morgan Stanley reduced their target price on Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. BNP Paribas upgraded Organon & Co. to a "strong-buy" rating in a research note on Thursday, May 22nd. Finally, Piper Sandler reduced their target price on 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 investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Organon & Co. Stock Up 1.2%

OGN stock traded up $0.1120 during trading on Wednesday, reaching $9.3720. 3,530,754 shares of the company traded hands, compared to its average volume of 4,741,211. Organon & Co. has a 12 month low of $8.01 and a 12 month high of $23.10. The business has a 50 day simple moving average of $9.71 and a 200 day simple moving average of $11.53. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 3.48, a price-to-earnings-growth ratio of 0.96 and a beta of 0.60. 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 quarterly earnings data 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 company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the company earned $1.12 earnings per share. The firm's revenue for the quarter was down .8% compared to the same quarter last year. Organon & Co. has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 15th will be given 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 0.9%. Organon & Co.'s dividend payout ratio (DPR) is presently 2.97%.

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.