Schonfeld Strategic Advisors LLC Acquires 42,103 Shares of Organon & Co. (NYSE:OGN)

Schonfeld Strategic Advisors LLC lifted its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 195.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,669 shares of the company's stock after purchasing an additional 42,103 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Organon & Co. were worth $950,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Barclays PLC raised its holdings in shares of Organon & Co. by 238.0% during the third quarter. Barclays PLC now owns 119,483 shares of the company's stock valued at $2,285,000 after buying an additional 84,136 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of Organon & Co. by 13.9% in the fourth quarter. Hsbc Holdings PLC now owns 13,922 shares of the company's stock valued at $208,000 after buying an additional 1,703 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of Organon & Co. in the fourth quarter valued at $2,263,000. Wedmont Private Capital increased its holdings in shares of 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 buying an additional 82,372 shares in the last quarter. Finally, Sippican Capital Advisors increased its holdings in shares of Organon & Co. by 138.7% in the fourth quarter. Sippican Capital Advisors now owns 36,352 shares of the company's stock valued at $542,000 after buying an additional 21,122 shares in the last quarter. Institutional investors own 77.43% of the company's stock.

Wall Street Analyst Weigh In

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

Organon & Co. Stock Down 3.2%

NYSE:OGN traded down $0.28 during trading hours on Tuesday, reaching $8.43. The company's stock had a trading volume of 6,447,483 shares, compared to its average volume of 3,100,312. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 2.53, a price-to-earnings-growth ratio of 0.90 and a beta of 0.75. Organon & Co. has a one year low of $8.05 and a one year high of $23.10. The business's 50-day moving average is $12.76 and its 200-day moving average is $14.56. 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. (NYSE:OGN - Get Free Report) last issued 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. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The firm had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same period in the prior year, the company posted $1.22 earnings per share. Organon & Co.'s revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts predict that Organon & Co. will post 3.68 EPS 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 issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Monday, May 12th. Organon & Co.'s dividend payout ratio (DPR) is 2.78%.

Insider Activity at Organon & Co.

In other Organon & Co. news, VP Daniel Karp purchased 3,500 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average price of $8.24 per share, for a total transaction of $28,840.00. Following the completion of the purchase, the vice president now directly owns 46,669 shares of the company's stock, valued at approximately $384,552.56. This represents a 8.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kirke Weaver purchased 8,045 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were acquired 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. This trade represents a 18.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 102,345 shares of company stock worth $902,430. Company insiders own 1.96% of the company's stock.

Organon & Co. Company 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.