Wedmont Private Capital Sells 54,982 Shares of Organon & Co. (NYSE:OGN)

Wedmont Private Capital reduced its position in Organon & Co. (NYSE:OGN - Free Report) by 54.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,557 shares of the company's stock after selling 54,982 shares during the quarter. Wedmont Private Capital's holdings in Organon & Co. were worth $678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barclays PLC raised its stake in Organon & Co. by 238.0% during the third quarter. Barclays PLC now owns 119,483 shares of the company's stock valued at $2,285,000 after purchasing an additional 84,136 shares in the last quarter. Hsbc Holdings PLC raised its stake in Organon & Co. by 13.9% during the fourth quarter. Hsbc Holdings PLC now owns 13,922 shares of the company's stock valued at $208,000 after purchasing an additional 1,703 shares in the last quarter. Wells Fargo & Company MN raised its stake in Organon & Co. by 28.6% during 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 in the last quarter. Wellington Management Group LLP raised its stake in Organon & Co. by 44.2% during 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 in the last quarter. Finally, NBC Securities Inc. raised its stake in Organon & Co. by 111,262.5% during 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 in the last quarter. Institutional investors own 77.43% of the company's stock.

Organon & Co. Trading Down 0.4%

Shares of OGN traded down $0.05 during midday trading on Friday, hitting $10.03. The stock had a trading volume of 3,343,604 shares, compared to its average volume of 3,422,888. Organon & Co. has a 1 year low of $8.01 and a 1 year high of $23.10. The firm has a market cap of $2.61 billion, a PE ratio of 3.01, a price-to-earnings-growth ratio of 0.90 and a beta of 0.58. 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 stock's 50 day moving average is $10.11 and its 200 day moving average is $13.47.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.02 earnings per share for the quarter, beating 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 business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm posted $1.22 earnings per share. The business's revenue for the quarter was down 6.7% on a year-over-year basis. As a group, analysts forecast that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Monday, May 12th. Organon & Co.'s payout ratio is presently 2.78%.

Insider Transactions at Organon & Co.

In other Organon & Co. news, VP Daniel Karp bought 3,500 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $8.24 per share, for a total transaction of $28,840.00. Following the acquisition, the vice president now directly owns 46,669 shares in the company, valued at approximately $384,552.56. The trade was a 8.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kirke Weaver bought 8,045 shares of the company's stock in a transaction on 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 acquisition, the insider now owns 52,489 shares in the company, valued at $483,423.69. This represents a 18.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 102,345 shares of company stock worth $902,430. Insiders own 1.96% of the company's stock.

Analyst Upgrades and Downgrades

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

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.