Graham Capital Management L.P. Reduces Stock Position in Organon & Co. (NYSE:OGN)

Graham Capital Management L.P. cut its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 64.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,105 shares of the company's stock after selling 64,781 shares during the period. Graham Capital Management L.P.'s holdings in Organon & Co. were worth $539,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Organon & Co. by 32.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company's stock worth $41,000 after acquiring an additional 672 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in Organon & Co. by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 113,120 shares of the company's stock valued at $1,688,000 after buying an additional 710 shares during the last quarter. Beam Wealth Advisors Inc. raised its position in shares of Organon & Co. by 3.9% during the 4th quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company's stock worth $282,000 after acquiring an additional 717 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Organon & Co. by 0.5% in the 4th quarter. HighTower Advisors LLC now owns 163,440 shares of the company's stock valued at $2,439,000 after buying an additional 855 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Organon & Co. by 4.9% during the fourth quarter. CIBC Asset Management Inc now owns 25,523 shares of the company's stock worth $381,000 after purchasing an additional 1,184 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company's stock.

Insider Buying and Selling

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

Organon & Co. Stock Performance

Shares of OGN opened at $8.81 on Friday. The company's 50 day simple moving average is $12.34 and its 200 day simple moving average is $14.42. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 2.65, a PEG ratio of 0.90 and a beta of 0.75. Organon & Co. has a 1 year low of $8.01 and a 1 year high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.53 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The company's revenue was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.22 EPS. On average, sell-side analysts predict that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a dividend of $0.02 per share. The ex-dividend date is Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.91%. Organon & Co.'s dividend payout ratio (DPR) is 2.78%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Evercore ISI cut shares of Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday, May 2nd. Barclays decreased 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 report on Friday, February 14th. 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. Finally, Morgan Stanley lowered their price objective 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Organon & Co. presently has a consensus rating of "Hold" and an average price target 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.

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