Proficio Capital Partners LLC Takes Position in Organon & Co. (NYSE:OGN)

Proficio Capital Partners LLC acquired a new stake in Organon & Co. (NYSE:OGN) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 26,393 shares of the company’s stock, valued at approximately $394,000.

A number of other hedge funds have also modified their holdings of OGN. Victory Capital Management Inc. grew its position in Organon & Co. by 20.7% during the 4th quarter. Victory Capital Management Inc. now owns 221,278 shares of the company’s stock worth $3,301,000 after purchasing an additional 37,980 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Organon & Co. by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,333,703 shares of the company’s stock worth $49,739,000 after purchasing an additional 10,652 shares during the period. SBI Securities Co. Ltd. purchased a new position in Organon & Co. in the 4th quarter valued at $97,000. Jones Financial Companies Lllp raised its position in Organon & Co. by 1,795.8% during the 4th quarter. Jones Financial Companies Lllp now owns 4,550 shares of the company’s stock worth $68,000 after buying an additional 4,310 shares during the last quarter. Finally, Riverview Trust Co lifted its stake in shares of Organon & Co. by 117.7% in the 4th 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. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Down 3.8 %

Shares of NYSE OGN opened at $14.74 on Wednesday. The firm’s 50-day moving average is $15.41 and its two-hundred day moving average is $16.33. The company has a market capitalization of $3.80 billion, a PE ratio of 4.43, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. Organon & Co. has a 12-month low of $13.87 and a 12-month high of $23.10. 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) last posted its earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.09). The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. Equities analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were issued a dividend of $0.28 per share. The ex-dividend date was Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.60%. Organon & Co.’s dividend payout ratio (DPR) is presently 33.63%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barclays dropped 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. Morgan Stanley reduced 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 note 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.80.

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.