Bank of Montreal Can Sells 31,945 Shares of Organon & Co. (NYSE:OGN)

Bank of Montreal Can lessened its stake in Organon & Co. (NYSE:OGN - Free Report) by 34.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,555 shares of the company's stock after selling 31,945 shares during the period. Bank of Montreal Can's holdings in Organon & Co. were worth $889,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in OGN. Horizon Bancorp Inc. IN grew its holdings 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 worth $25,000 after acquiring an additional 1,585 shares during the period. Millstone Evans Group LLC purchased a new position in Organon & Co. in the fourth quarter worth about $29,000. Larson Financial Group LLC grew its stake in shares of Organon & Co. by 345.4% during the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company's stock valued at $33,000 after purchasing an additional 1,734 shares during the period. Riverview Trust Co increased its position in shares of Organon & Co. by 117.7% during the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company's stock valued at $36,000 after purchasing an additional 1,292 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Organon & Co. by 92.2% in the 4th quarter. Versant Capital Management Inc now owns 2,760 shares of the company's stock worth $41,000 after purchasing an additional 1,324 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Price Performance

Shares of NYSE:OGN opened at $11.11 on Friday. The firm's 50 day simple moving average is $14.25 and its two-hundred day simple moving average is $15.39. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. The company has a market capitalization of $2.87 billion, a P/E ratio of 3.34, a P/E/G ratio of 0.90 and a beta of 0.73. Organon & Co. has a 1-year low of $10.75 and a 1-year high of $23.10.

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

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 10.08%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.'s dividend payout ratio (DPR) is presently 33.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OGN. TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. Morgan Stanley dropped their price target on shares of Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Finally, Barclays reduced their price objective 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 analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $20.60.

Organon & Co. 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.

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