Raymond James Financial Inc. Invests $4.19 Million in Organon & Co. (NYSE:OGN)

Raymond James Financial Inc. acquired a new position in shares of Organon & Co. (NYSE:OGN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 281,110 shares of the company's stock, valued at approximately $4,194,000. Raymond James Financial Inc. owned approximately 0.11% of Organon & Co. at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC raised its position in shares of Organon & Co. by 238.0% in the 3rd quarter. Barclays PLC now owns 119,483 shares of the company's stock worth $2,285,000 after purchasing an additional 84,136 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Organon & Co. during the 3rd quarter valued at about $185,000. Optimist Retirement Group LLC purchased a new position in Organon & Co. in the third quarter worth about $1,974,000. Tidal Investments LLC lifted its stake in shares of Organon & Co. by 10.6% in the third quarter. Tidal Investments LLC now owns 76,525 shares of the company's stock worth $1,464,000 after buying an additional 7,330 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Organon & Co. by 3.9% during the third quarter. Franklin Resources Inc. now owns 344,138 shares of the company's stock valued at $6,229,000 after buying an additional 13,029 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company's stock.

Organon & Co. Stock Performance

Shares of OGN traded down $0.13 during trading hours on Friday, hitting $9.33. The stock had a trading volume of 5,038,003 shares, compared to its average volume of 2,871,236. The firm has a market capitalization of $2.42 billion, a PE ratio of 2.81, a PEG ratio of 0.90 and a beta of 0.73. 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 $9.19 and a 12 month high of $23.10. The stock has a fifty day moving average price of $13.60 and a 200 day moving average price of $15.02.

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

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were given a $0.28 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.12 annualized dividend and a yield of 12.01%. Organon & Co.'s payout ratio is presently 33.63%.

Analysts Set New Price Targets

OGN has been the subject of a number of recent analyst reports. Evercore ISI lowered shares of Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday. Barclays decreased their price target on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Morgan Stanley dropped their price objective on Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Finally, TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $19.75.

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.