Connor Clark & Lunn Investment Management Ltd. Purchases New Position in Organon & Co. (NYSE:OGN)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Organon & Co. (NYSE:OGN - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 60,217 shares of the company's stock, valued at approximately $898,000.

Several other hedge funds have also recently bought and sold shares of OGN. Barclays PLC raised its stake in shares of Organon & Co. by 238.0% in the third quarter. Barclays PLC now owns 119,483 shares of the company's stock valued at $2,285,000 after acquiring an additional 84,136 shares during the last quarter. Weiss Asset Management LP acquired a new stake in Organon & Co. during the 3rd quarter valued at $32,966,000. Cerity Partners LLC raised its position in Organon & Co. by 94.0% in the 3rd quarter. Cerity Partners LLC now owns 667,340 shares of the company's stock valued at $12,766,000 after purchasing an additional 323,308 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Organon & Co. in the 4th quarter valued at $2,263,000. Finally, Victory Capital Management Inc. boosted its stake in Organon & Co. by 127.3% in the third quarter. Victory Capital Management Inc. now owns 183,298 shares of the company's stock worth $3,506,000 after purchasing an additional 102,663 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OGN has been the subject of a number of research reports. TD Cowen upgraded Organon & Co. to a "hold" rating in a research note on Wednesday, January 15th. Morgan Stanley decreased their price objective on shares of Organon & Co. from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. Finally, Barclays dropped their target price on shares of 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.80.

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Organon & Co. Trading Down 3.8 %

OGN stock traded down $0.59 during midday trading on Tuesday, reaching $14.74. The stock had a trading volume of 3,416,193 shares, compared to its average volume of 2,409,594. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 4.43, a PEG ratio of 0.90 and a beta of 0.76. Organon & Co. has a twelve month low of $13.87 and a twelve month high of $23.10. 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 business has a fifty day simple moving average of $15.43 and a two-hundred day simple moving average of $16.37.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.83 EPS 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 business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. As a group, research analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.12 annualized dividend and a dividend yield of 7.60%. Organon & Co.'s dividend payout ratio is currently 33.63%.

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.