ADAR1 Capital Management LLC Raises Stock Position in Organon & Co. (NYSE:OGN)

ADAR1 Capital Management LLC lifted its position in Organon & Co. (NYSE:OGN - Free Report) by 1,196.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,200 shares of the company's stock after acquiring an additional 37,100 shares during the period. ADAR1 Capital Management LLC's holdings in Organon & Co. were worth $600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Federated Hermes Inc. lifted its holdings in Organon & Co. by 4.4% in the 4th quarter. Federated Hermes Inc. now owns 75,677 shares of the company's stock valued at $1,129,000 after purchasing an additional 3,169 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Organon & Co. by 203.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 241,910 shares of the company's stock worth $3,609,000 after buying an additional 162,188 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Organon & Co. by 28.6% in the fourth quarter. Wells Fargo & Company MN now owns 262,746 shares of the company's stock worth $3,920,000 after buying an additional 58,378 shares in the last quarter. Foundry Partners LLC boosted its position in Organon & Co. by 2.7% during the fourth quarter. Foundry Partners LLC now owns 410,457 shares of the company's stock worth $6,124,000 after acquiring an additional 10,963 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Organon & Co. by 1.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,895,067 shares of the company's stock valued at $147,634,000 after acquiring an additional 136,760 shares in the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

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Organon & Co. Trading Down 2.3 %

OGN stock traded down $0.27 during midday trading on Friday, hitting $11.17. 5,055,884 shares of the company's stock were exchanged, compared to its average volume of 2,651,096. Organon & Co. has a 1-year low of $10.94 and a 1-year high of $23.10. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The stock has a market capitalization of $2.88 billion, a PE ratio of 3.35, a P/E/G ratio of 0.90 and a beta of 0.73. The business has a 50-day simple moving average of $14.64 and a two-hundred day simple moving average of $15.67.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. On average, sell-side analysts predict that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 10.03%. Organon & Co.'s payout ratio is currently 33.63%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OGN. Morgan Stanley lowered their target price on Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday. TD Cowen upgraded Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Finally, Barclays cut 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Organon & Co. currently has a consensus rating of "Hold" and a consensus target price of $20.60.

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.