Legal & General Group Plc cut its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 798,917 shares of the company's stock after selling 23,271 shares during the quarter. Legal & General Group Plc owned about 0.31% of Organon & Co. worth $11,920,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of OGN. Horizon Bancorp Inc. IN grew its position in Organon & Co. by 2,401.5% during the 4th quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company's stock valued at $25,000 after purchasing an additional 1,585 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Organon & Co. during the fourth quarter valued at approximately $29,000. Larson Financial Group LLC increased its position in shares of Organon & Co. by 345.4% during the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company's stock valued at $33,000 after acquiring an additional 1,734 shares in the last quarter. Riverview Trust Co raised its holdings in Organon & Co. by 117.7% in the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company's stock worth $36,000 after acquiring an additional 1,292 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in Organon & Co. by 92.2% in the 4th quarter. Versant Capital Management Inc now owns 2,760 shares of the company's stock valued at $41,000 after acquiring an additional 1,324 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors.
Organon & Co. Stock Performance
Shares of OGN traded up $0.62 on Tuesday, reaching $11.25. The company's stock had a trading volume of 5,426,284 shares, compared to its average volume of 2,677,803. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. Organon & Co. has a 12-month low of $10.45 and a 12-month high of $23.10. The stock has a market capitalization of $2.90 billion, a P/E ratio of 3.38, a PEG ratio of 0.90 and a beta of 0.73. The stock's 50 day simple moving average is $14.07 and its two-hundred day simple moving average is $15.29.
Organon & Co. (NYSE:OGN - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.09). The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. Research analysts forecast that Organon & Co. will post 3.68 earnings per share for the current fiscal year.
Organon & Co. Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 9.96%. The ex-dividend date was Monday, February 24th. Organon & Co.'s dividend payout ratio is 33.63%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. TD Cowen raised Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Morgan Stanley lowered their target price on shares of 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, Barclays reduced their price target on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Organon & Co. currently has an average rating of "Hold" and an average target price of $20.60.
Check Out Our Latest Report on OGN
About Organon & Co.
(
Free Report)
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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