Leigh Baldwin & CO. LLC Invests $344,000 in Organon & Co. (NYSE:OGN)

Leigh Baldwin & CO. LLC purchased a new position in shares of Organon & Co. (NYSE:OGN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 230,699 shares of the company's stock, valued at approximately $344,000. Leigh Baldwin & CO. LLC owned 0.09% of Organon & Co. as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in shares of Organon & Co. by 238.0% during the 3rd quarter. Barclays PLC now owns 119,483 shares of the company's stock valued at $2,285,000 after acquiring an additional 84,136 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in Organon & Co. during the fourth quarter valued at $2,263,000. Wedmont Private Capital grew its stake in Organon & Co. by 453.4% in the fourth quarter. Wedmont Private Capital now owns 100,539 shares of the company's stock valued at $1,594,000 after purchasing an additional 82,372 shares in the last quarter. Sippican Capital Advisors increased its position in Organon & Co. by 138.7% in the 4th quarter. Sippican Capital Advisors now owns 36,352 shares of the company's stock worth $542,000 after purchasing an additional 21,122 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Organon & Co. by 28.6% during the 4th quarter. Wells Fargo & Company MN now owns 262,746 shares of the company's stock worth $3,920,000 after purchasing an additional 58,378 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Stock Performance

Organon & Co. stock opened at $8.72 on Monday. Organon & Co. has a 12-month low of $8.05 and a 12-month high of $23.10. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 2.62, a P/E/G ratio of 0.90 and a beta of 0.75. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The stock has a 50-day simple moving average of $12.87 and a 200 day simple moving average of $14.62.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping 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 company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter in the previous year, the company earned $1.22 EPS. Organon & Co.'s revenue was down 6.7% on a year-over-year basis. On average, research analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders 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 dividend yield of 0.92%. Organon & Co.'s dividend payout ratio is 2.78%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley lowered their price objective on Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. TD Cowen raised Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Barclays reduced their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Finally, Evercore ISI cut Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.00.

Insider Buying and Selling at Organon & Co.

In related news, VP Daniel Karp acquired 3,500 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kirke Weaver purchased 8,045 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average price of $9.21 per share, with a total value of $74,094.45. Following the purchase, the insider now owns 52,489 shares of the company's stock, valued at approximately $483,423.69. The trade was 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 acquired 102,345 shares of company stock valued at $902,430. Company insiders own 1.96% of the company's stock.

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.

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