Advent Capital Management DE Acquires 75,000 Shares of Organon & Co. (NYSE:OGN)

Advent Capital Management DE boosted its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 60.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 200,000 shares of the company's stock after buying an additional 75,000 shares during the quarter. Advent Capital Management DE owned approximately 0.08% of Organon & Co. worth $2,984,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in OGN. Barclays PLC grew its stake in shares of Organon & Co. by 238.0% during the 3rd quarter. Barclays PLC now owns 119,483 shares of the company's stock worth $2,285,000 after acquiring an additional 84,136 shares during the period. Robeco Institutional Asset Management B.V. bought a new position in Organon & Co. during the fourth quarter worth about $2,263,000. Wedmont Private Capital boosted its position in Organon & Co. by 453.4% during the fourth quarter. Wedmont Private Capital now owns 100,539 shares of the company's stock worth $1,594,000 after purchasing an additional 82,372 shares during the period. Sippican Capital Advisors increased its stake in shares of Organon & Co. by 138.7% in the fourth quarter. Sippican Capital Advisors now owns 36,352 shares of the company's stock worth $542,000 after purchasing an additional 21,122 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Organon & Co. by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,248,108 shares of the company's stock valued at $81,288,000 after purchasing an additional 82,220 shares during the period. Hedge funds and other institutional investors own 77.43% of the company's stock.

Organon & Co. Stock Up 2.7 %

Shares of NYSE:OGN traded up $0.29 during trading on Friday, hitting $11.11. The stock had a trading volume of 2,927,325 shares, compared to its average volume of 2,658,765. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The company has a market capitalization of $2.87 billion, a PE ratio of 3.34, a PEG ratio of 0.90 and a beta of 0.73. The firm's fifty day moving average is $14.25 and its 200 day moving average is $15.41. Organon & Co. has a 12 month low of $10.75 and a 12 month high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly 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 business had revenue of $1.59 billion for 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%. Analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The business 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 annualized dividend and a dividend yield of 10.08%. Organon & Co.'s payout ratio is presently 33.63%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on OGN shares. Morgan Stanley reduced their price target on Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Barclays dropped their target price on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Finally, TD Cowen upgraded Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Organon & Co. presently 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.