JPMorgan Chase & Co. Sells 258,322 Shares of Organon & Co. (NYSE:OGN)

JPMorgan Chase & Co. decreased its stake in Organon & Co. (NYSE:OGN - Free Report) by 40.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 375,008 shares of the company's stock after selling 258,322 shares during the period. JPMorgan Chase & Co. owned about 0.15% of Organon & Co. worth $5,595,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in OGN. Pacer Advisors Inc. boosted its stake in shares of Organon & Co. by 94,482.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock valued at $166,391,000 after purchasing an additional 11,140,388 shares in the last quarter. Magnetar Financial LLC grew its stake in shares of Organon & Co. by 560.2% in the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company's stock worth $25,878,000 after buying an additional 1,471,731 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Organon & Co. by 191.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 760,807 shares of the company's stock worth $11,382,000 after buying an additional 499,616 shares during the last quarter. LPL Financial LLC grew its stake in shares of Organon & Co. by 160.7% in the 4th quarter. LPL Financial LLC now owns 457,687 shares of the company's stock worth $6,829,000 after buying an additional 282,150 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Organon & Co. in the 4th quarter worth approximately $4,194,000. Institutional investors own 77.43% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on OGN shares. Barclays cut their target price 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. 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 note on Wednesday, April 9th. Finally, TD Cowen raised Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $20.60.

Organon & Co. Trading Up 3.1 %

OGN traded up $0.35 during trading on Wednesday, reaching $11.59. The company had a trading volume of 930,661 shares, compared to its average volume of 2,672,103. The stock has a market cap of $2.99 billion, a P/E ratio of 3.48, a PEG ratio of 0.90 and a beta of 0.73. The business has a 50 day simple moving average of $14.07 and a 200-day simple moving average of $15.29. Organon & Co. has a 52 week low of $10.45 and a 52 week high of $23.10. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.83 EPS 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 analysts' expectations of $1.57 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. On average, equities analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.12 annualized dividend and a dividend yield of 9.66%. Organon & Co.'s dividend payout ratio is currently 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.