First Trust Advisors LP Sells 34,179 Shares of Organon & Co. (NYSE:OGN)

First Trust Advisors LP reduced its position in Organon & Co. (NYSE:OGN - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,604,572 shares of the company's stock after selling 34,179 shares during the quarter. First Trust Advisors LP owned about 0.62% of Organon & Co. worth $23,940,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in OGN. Barclays PLC lifted its stake in Organon & Co. by 238.0% during the third quarter. Barclays PLC now owns 119,483 shares of the company's stock worth $2,285,000 after purchasing an additional 84,136 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Organon & Co. in the third quarter valued at about $185,000. Optimist Retirement Group LLC acquired a new position in Organon & Co. during the third quarter worth about $1,974,000. Tidal Investments LLC lifted its holdings in shares of Organon & Co. by 10.6% in the third quarter. Tidal Investments LLC now owns 76,525 shares of the company's stock worth $1,464,000 after acquiring an additional 7,330 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Organon & Co. by 3.9% in the 3rd quarter. Franklin Resources Inc. now owns 344,138 shares of the company's stock valued at $6,229,000 after purchasing an additional 13,029 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OGN. TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. Barclays reduced their price objective on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Finally, Morgan Stanley dropped their target price on Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Organon & Co. has an average rating of "Hold" and an average target price of $19.75.

Organon & Co. Stock Down 24.7 %

Shares of OGN stock traded down $3.19 on Thursday, hitting $9.74. The stock had a trading volume of 16,692,547 shares, compared to its average volume of 2,804,185. The business has a 50 day moving average of $13.71 and a 200 day moving average of $15.08. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. Organon & Co. has a 12-month low of $9.27 and a 12-month high of $23.10. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 2.93, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.57 billion. As a group, analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 11.50%. The ex-dividend date was Monday, February 24th. Organon & Co.'s dividend payout ratio (DPR) is presently 33.63%.

Organon & Co. 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.