Bank of New York Mellon Corp Sells 149,081 Shares of Organon & Co. (NYSE:OGN)

Bank of New York Mellon Corp lessened its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,802,665 shares of the company's stock after selling 149,081 shares during the period. Bank of New York Mellon Corp owned 1.48% of Organon & Co. worth $56,736,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in Organon & Co. in the third quarter valued at $25,000. Horizon Bancorp Inc. IN raised its holdings in shares of Organon & Co. by 2,401.5% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company's stock valued at $25,000 after purchasing an additional 1,585 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Organon & Co. by 32.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company's stock valued at $41,000 after purchasing an additional 672 shares during the period. Versant Capital Management Inc raised its holdings in shares of Organon & Co. by 92.2% during the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company's stock valued at $41,000 after purchasing an additional 1,324 shares during the period. Finally, WFA Asset Management Corp acquired a new position in shares of Organon & Co. during the fourth quarter valued at about $68,000. Institutional investors and hedge funds own 77.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OGN. Barclays dropped their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Morgan Stanley reduced their target price on shares of Organon & Co. from $17.00 to $16.00 and set an "equal weight" rating for the company in a research report on Friday, February 14th. Finally, TD Cowen raised shares of Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $20.80.

Organon & Co. Stock Up 1.1 %

Organon & Co. stock traded up $0.16 during trading hours on Wednesday, hitting $14.45. The stock had a trading volume of 2,912,428 shares, compared to its average volume of 2,304,003. 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 stock's 50-day moving average price is $15.42 and its 200-day moving average price is $16.99. Organon & Co. has a 12-month low of $13.87 and a 12-month high of $23.10. The stock has a market capitalization of $3.72 billion, a P/E ratio of 4.34, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share for the quarter, missing analysts' consensus estimates 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. Equities research analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Monday, February 24th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date of this dividend is Monday, February 24th. Organon & Co.'s payout ratio is 33.63%.

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.