Stifel Financial Corp Acquires 169,447 Shares of Organon & Co. (NYSE:OGN)

Stifel Financial Corp lifted its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 71.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 405,528 shares of the company's stock after purchasing an additional 169,447 shares during the quarter. Stifel Financial Corp owned 0.16% of Organon & Co. worth $6,051,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of OGN. Pacer Advisors Inc. raised its holdings in Organon & Co. by 94,482.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock worth $166,391,000 after buying an additional 11,140,388 shares during the period. Norges Bank acquired a new position in shares of Organon & Co. in the fourth quarter valued at approximately $25,258,000. Magnetar Financial LLC increased its position in shares of Organon & Co. by 560.2% during the fourth quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company's stock worth $25,878,000 after acquiring an additional 1,471,731 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Organon & Co. by 23.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,284,408 shares of the company's stock worth $48,999,000 after acquiring an additional 629,191 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Organon & Co. by 44.6% during the fourth quarter. Invesco Ltd. now owns 2,034,780 shares of the company's stock worth $30,359,000 after acquiring an additional 627,944 shares during the period. Institutional investors own 77.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OGN. Evercore ISI cut Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday. Barclays dropped their target price on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Morgan Stanley decreased their price target on shares of Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Finally, TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Organon & Co. presently has an average rating of "Hold" and a consensus price target of $19.67.

Organon & Co. Stock Up 1.6 %

NYSE OGN traded up $0.15 during trading hours on Friday, hitting $9.60. 13,582,579 shares of the company traded hands, compared to its average volume of 2,895,434. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The business's 50-day moving average is $13.46 and its 200-day moving average is $14.94. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 2.88, a P/E/G ratio of 0.90 and a beta of 0.73. Organon & Co. has a twelve month low of $9.18 and a twelve month high of $23.10.

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

Organon & Co. Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Monday, May 12th. 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.