Steward Partners Investment Advisory LLC Sells 1,241 Shares of Organon & Co. (NYSE:OGN)

Steward Partners Investment Advisory LLC trimmed its holdings in Organon & Co. (NYSE:OGN) by 11.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,920 shares of the company’s stock after selling 1,241 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Organon & Co. were worth $148,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in Organon & Co. in the 3rd quarter worth approximately $25,000. Horizon Bancorp Inc. IN raised its position in shares of 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. 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 buying an additional 1,292 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Organon & Co. by 92.2% during the 4th quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock worth $41,000 after buying an additional 1,324 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Organon & Co. by 32.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock valued at $41,000 after buying an additional 672 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OGN. Morgan Stanley cut their target price 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. TD Cowen raised Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Finally, Barclays decreased their target price 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. One investment 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.80.

Organon & Co. Stock Up 2.5 %

Shares of OGN opened at $15.34 on Monday. 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 company has a 50-day simple moving average of $15.46 and a 200-day simple moving average of $16.64. 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 $3.96 billion, a P/E ratio of 4.61, a P/E/G ratio of 0.90 and a beta of 0.76.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. On average, equities research analysts expect that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Announces Dividend

The company 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. The ex-dividend date was Monday, February 24th. This represents a $1.12 annualized dividend and a yield of 7.30%. Organon & Co.’s dividend payout ratio (DPR) is currently 33.63%.

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.