Invesco Ltd. Buys 627,944 Shares of Organon & Co. (NYSE:OGN)

Invesco Ltd. grew its stake in Organon & Co. (NYSE:OGN - Free Report) by 44.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,034,780 shares of the company's stock after purchasing an additional 627,944 shares during the quarter. Invesco Ltd. owned about 0.79% of Organon & Co. worth $30,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC increased its position in shares of 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 buying an additional 84,136 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in Organon & Co. during the 4th quarter valued at approximately $2,263,000. Wedmont Private Capital grew its holdings in shares of Organon & Co. by 453.4% during the 4th quarter. Wedmont Private Capital now owns 100,539 shares of the company's stock worth $1,594,000 after acquiring an additional 82,372 shares during the period. Sippican Capital Advisors grew its holdings in shares of Organon & Co. by 138.7% during the 4th quarter. Sippican Capital Advisors now owns 36,352 shares of the company's stock worth $542,000 after acquiring an additional 21,122 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Organon & Co. by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,248,108 shares of the company's stock worth $81,288,000 after acquiring an additional 82,220 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on OGN. Barclays reduced their price target on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. TD Cowen raised shares of Organon & Co. to a "hold" rating in a research note on Wednesday, January 15th. Finally, Morgan Stanley dropped their price target on Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Organon & Co. presently has an average rating of "Hold" and a consensus price target of $20.60.

Organon & Co. Stock Up 4.1 %

NYSE:OGN traded up $0.46 on Wednesday, reaching $11.70. 1,308,733 shares of the stock traded hands, compared to its average volume of 3,499,007. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 3.51, a PEG ratio of 0.90 and a beta of 0.73. Organon & Co. has a 12 month low of $10.45 and a 12 month high of $23.10. The company's fifty day simple moving average is $14.07 and its 200 day simple moving average is $15.29.

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

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 9.57%. The ex-dividend date was Monday, February 24th. Organon & Co.'s dividend payout ratio is currently 33.63%.

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.