Organon & Co. (NYSE:OGN) Shares Bought by Summit Securities Group LLC

Summit Securities Group LLC increased its holdings in Organon & Co. (NYSE:OGN) by 35.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,100 shares of the company’s stock after purchasing an additional 7,300 shares during the quarter. Summit Securities Group LLC’s holdings in Organon & Co. were worth $419,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Horizon Bancorp Inc. IN grew its position 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 worth $25,000 after acquiring an additional 1,585 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in Organon & Co. during the fourth quarter valued at approximately $29,000. Larson Financial Group LLC raised its stake in 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 in the last quarter. Riverview Trust Co lifted its holdings in Organon & Co. by 117.7% during the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock valued at $36,000 after purchasing an additional 1,292 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Organon & Co. by 92.2% in the 4th quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock worth $41,000 after acquiring an additional 1,324 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Stock Performance

Shares of NYSE OGN opened at $14.52 on Friday. Organon & Co. has a 52 week low of $13.87 and a 52 week high of $23.10. The stock has a market capitalization of $3.74 billion, a PE ratio of 4.36, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. 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 stock has a 50 day moving average price of $15.33 and a 200 day moving average price of $16.24.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, February 13th. The company reported $0.83 earnings per share 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 firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. Analysts predict that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were paid a $0.28 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.12 annualized dividend and a yield of 7.72%. Organon & Co.’s dividend payout ratio is 33.63%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays reduced their target price on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Morgan Stanley lowered their price objective on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Finally, TD Cowen upgraded Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.80.

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.