Essex Financial Services Inc. Trims Stock Position in Organon & Co. (NYSE:OGN)

Essex Financial Services Inc. cut its stake in Organon & Co. (NYSE:OGN) by 5.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,471 shares of the company’s stock after selling 3,355 shares during the quarter. Essex Financial Services Inc.’s holdings in Organon & Co. were worth $813,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of OGN. Prospera Private Wealth LLC purchased a new stake in Organon & Co. in the third quarter worth about $25,000. Horizon Bancorp Inc. IN raised its position in shares of Organon & Co. by 2,401.5% in the 4th quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after acquiring an additional 1,585 shares in the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of Organon & Co. by 5,646.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after purchasing an additional 2,315 shares during the period. Trust Co. of Vermont boosted its position in shares of Organon & Co. by 109.4% during the third quarter. Trust Co. of Vermont now owns 2,626 shares of the company’s stock valued at $50,000 after purchasing an additional 1,372 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Organon & Co. by 32.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock valued at $41,000 after purchasing an additional 672 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, TD Cowen raised Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $21.33.

Organon & Co. Price Performance

OGN stock opened at $14.70 on Thursday. 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 firm has a 50 day moving average price of $15.33 and a 200-day moving average price of $17.54. Organon & Co. has a 52-week low of $13.87 and a 52-week high of $23.10. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of 2.92, a PEG ratio of 0.83 and a beta of 0.76.

About Organon & Co.

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.