Allspring Global Investments Holdings LLC Boosts Stock Position in Organon & Co. (NYSE:OGN)

Allspring Global Investments Holdings LLC grew its holdings in Organon & Co. (NYSE:OGN) by 191.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 760,807 shares of the company’s stock after buying an additional 499,616 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.30% of Organon & Co. worth $11,382,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Organon & Co. by 238.0% during the third quarter. Barclays PLC now owns 119,483 shares of the company’s stock valued at $2,285,000 after acquiring an additional 84,136 shares during the last quarter. Weiss Asset Management LP acquired a new position in Organon & Co. in the 3rd quarter valued at $32,966,000. Cerity Partners LLC raised its stake in Organon & Co. by 94.0% in the 3rd quarter. Cerity Partners LLC now owns 667,340 shares of the company’s stock valued at $12,766,000 after purchasing an additional 323,308 shares during the last quarter. Foundry Partners LLC acquired a new position in Organon & Co. in the 3rd quarter valued at $7,642,000. Finally, Beddow Capital Management Inc. raised its position in shares of Organon & Co. by 38.8% in the third quarter. Beddow Capital Management Inc. now owns 306,675 shares of the company’s stock valued at $5,867,000 after buying an additional 85,775 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on OGN shares. TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. Barclays cut their price target on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday. Finally, Morgan Stanley cut their target price on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.80.

Organon & Co. Stock Down 6.3 %

OGN stock opened at $15.30 on Tuesday. The company has a fifty day moving average price of $15.35 and a 200 day moving average price of $17.38. Organon & Co. has a 12 month low of $13.87 and a 12 month high of $23.10. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 3.03, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. 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 announced its 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 net margin of 20.30% and a return on equity of 644.70%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Sell-side analysts expect that Organon & Co. will post 3.82 earnings per share for the current year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 7.32%. The ex-dividend date is Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is presently 22.22%.

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.