Organon & Co. (NYSE:OGN) Shares Sold by Wedmont Private Capital

Wedmont Private Capital lowered its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 54.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,557 shares of the company's stock after selling 54,982 shares during the period. Wedmont Private Capital's holdings in Organon & Co. were worth $678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in shares of Organon & Co. during the 4th quarter worth about $29,000. Larson Financial Group LLC raised its holdings in Organon & Co. by 345.4% in the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company's stock valued at $33,000 after acquiring an additional 1,734 shares during the period. Riverview Trust Co boosted its position in shares of Organon & Co. by 117.7% in the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company's stock valued at $36,000 after acquiring an additional 1,292 shares during the period. GeoWealth Management LLC acquired a new stake in shares of Organon & Co. in the fourth quarter valued at approximately $41,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Organon & Co. by 1,795.8% during the 4th quarter. Jones Financial Companies Lllp now owns 4,550 shares of the company's stock valued at $68,000 after acquiring an additional 4,310 shares during the period. Institutional investors and hedge funds own 77.43% of the company's stock.

Insider Activity at Organon & Co.

In other news, insider Kirke Weaver bought 8,045 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $9.21 per share, for a total transaction of $74,094.45. Following the completion of the transaction, the insider now owns 52,489 shares of the company's stock, valued at approximately $483,423.69. This trade represents a 18.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Daniel Karp acquired 3,500 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $8.24 per share, with a total value of $28,840.00. Following the completion of the transaction, the vice president now directly owns 46,669 shares in the company, valued at $384,552.56. This trade represents a 8.11% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 102,345 shares of company stock worth $902,430. Company insiders own 1.96% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on OGN. Morgan Stanley lowered their price objective on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Barclays reduced their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Piper Sandler dropped 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. Evercore ISI downgraded Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. Finally, BNP Paribas upgraded Organon & Co. to a "strong-buy" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.00.

Organon & Co. Trading Up 2.4%

Shares of NYSE:OGN traded up $0.24 during trading on Thursday, hitting $10.32. The company had a trading volume of 1,893,161 shares, compared to its average volume of 4,642,327. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. The company has a fifty day simple moving average of $10.16 and a two-hundred day simple moving average of $13.51. Organon & Co. has a one year low of $8.01 and a one year high of $23.10. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of 3.10, a price-to-earnings-growth ratio of 0.90 and a beta of 0.58.

Organon & Co. (NYSE:OGN - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.13. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the firm earned $1.22 EPS. Organon & Co.'s revenue was down 6.7% compared to the same quarter last year. As a group, equities analysts forecast that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Monday, May 12th. Organon & Co.'s payout ratio is 2.78%.

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.