Townsquare Capital LLC Buys 48,972 Shares of Organon & Co. (NYSE:OGN)

Townsquare Capital LLC increased its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 229.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 70,318 shares of the company's stock after buying an additional 48,972 shares during the quarter. Townsquare Capital LLC's holdings in Organon & Co. were worth $1,049,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Horizon Bancorp Inc. IN increased its holdings in Organon & Co. by 2,401.5% in the fourth 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 period. Millstone Evans Group LLC acquired a new stake in shares of Organon & Co. in the fourth quarter valued at about $29,000. Larson Financial Group LLC raised 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 worth $33,000 after acquiring an additional 1,734 shares during the last quarter. Riverview Trust Co lifted its stake in shares of Organon & Co. by 117.7% in the fourth 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 period. Finally, Versant Capital Management Inc boosted its holdings in Organon & Co. by 92.2% in the fourth 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 during the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Price Performance

Shares of OGN traded up $0.44 during trading hours on Wednesday, reaching $11.68. 1,505,920 shares of the company's stock traded hands, compared to its average volume of 2,673,821. Organon & Co. has a 12 month low of $10.45 and a 12 month high of $23.10. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The stock has a market cap of $3.01 billion, a PE ratio of 3.51, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73. The firm's 50 day simple moving average is $14.07 and its 200-day simple moving average is $15.29.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.09). Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The company had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.57 billion. Equities analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 9.59%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.'s payout ratio is presently 33.63%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OGN. TD Cowen raised Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. Morgan Stanley dropped their price objective 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 cut 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $20.60.

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.