Organon & Co. (NYSE:OGN) is Kahn Brothers Group Inc.'s 9th Largest Position

Kahn Brothers Group Inc. lowered its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,567,273 shares of the company's stock after selling 267,920 shares during the period. Organon & Co. accounts for about 5.0% of Kahn Brothers Group Inc.'s investment portfolio, making the stock its 9th largest position. Kahn Brothers Group Inc. owned about 0.61% of Organon & Co. worth $23,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. boosted its position 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 acquiring an additional 11,140,388 shares during the last quarter. Norges Bank bought a new position in Organon & Co. during the fourth quarter valued at $25,258,000. 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Organon & Co. by 23.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,284,408 shares of the company's stock worth $48,999,000 after buying an additional 629,191 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Organon & Co. by 44.6% in the 4th quarter. Invesco Ltd. now owns 2,034,780 shares of the company's stock worth $30,359,000 after buying an additional 627,944 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company's stock.

Insider Buying and Selling

In related news, CEO Kevin Ali bought 34,000 shares of the company's stock in a transaction on Monday, May 5th. The shares were acquired at an average price of $8.80 per share, with a total value of $299,200.00. Following the transaction, the chief executive officer now owns 282,731 shares of the company's stock, valued at $2,488,032.80. The trade was a 13.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Daniel Karp purchased 3,500 shares of Organon & Co. stock in a transaction dated Tuesday, May 6th. The stock was bought at an average cost of $8.24 per share, with a total value of $28,840.00. Following the completion of the transaction, the vice president now owns 46,669 shares in the company, valued at approximately $384,552.56. This represents a 8.11 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 102,345 shares of company stock valued at $902,430 over the last three months. 1.96% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OGN. Evercore ISI cut Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. Barclays decreased their price target on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley lowered their target price on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $18.00.

Organon & Co. Trading Down 3.3 %

NYSE OGN opened at $8.72 on Friday. The stock has a market cap of $2.27 billion, a PE ratio of 2.62, a PEG ratio of 0.90 and a beta of 0.75. Organon & Co. has a 12 month low of $8.05 and a 12 month high of $23.10. The company's 50-day moving average price is $12.87 and its 200-day moving average price is $14.64. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.13. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period last year, the company posted $1.22 earnings per share. The company's quarterly revenue was down 6.7% compared to the same quarter last year. Equities research analysts forecast that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be issued a $0.02 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.92%. Organon & Co.'s payout ratio is currently 2.78%.

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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