Bleakley Financial Group LLC Increases Stake in Organon & Co. (NYSE:OGN)

Bleakley Financial Group LLC raised its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 302.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,372 shares of the company's stock after purchasing an additional 36,367 shares during the period. Bleakley Financial Group LLC's holdings in Organon & Co. were worth $722,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in OGN. Pacer Advisors Inc. raised its holdings in shares of Organon & Co. by 94,482.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock valued at $166,391,000 after acquiring an additional 11,140,388 shares in the last quarter. Geode Capital Management LLC boosted its position in Organon & Co. by 2.0% during 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Organon & Co. by 35.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company's stock valued at $63,570,000 after purchasing an additional 875,128 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its position in Organon & Co. by 6.4% during the third quarter. Thompson Siegel & Walmsley LLC now owns 2,262,379 shares of the company's stock valued at $43,279,000 after purchasing an additional 136,457 shares in the last quarter. Finally, Private Management Group Inc. boosted its position in Organon & Co. by 11.9% during the fourth quarter. Private Management Group Inc. now owns 2,119,288 shares of the company's stock valued at $31,620,000 after purchasing an additional 225,420 shares in the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, TD Cowen raised 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, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $21.33.

Organon & Co. Stock Performance

Shares of NYSE:OGN traded up $1.61 during trading on Thursday, hitting $16.31. The stock had a trading volume of 8,156,057 shares, compared to its average volume of 2,770,650. 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 $4.20 billion, a price-to-earnings ratio of 3.24, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. 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 has a 50-day simple moving average of $15.34 and a two-hundred day simple moving average of $17.53.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. On average, equities research analysts expect that Organon & Co. will post 3.82 earnings per share for the current fiscal year.

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.