Envestnet Asset Management Inc. Increases Stock Holdings in Organon & Co. (NYSE:OGN)

Envestnet Asset Management Inc. boosted its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 203.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 241,910 shares of the company's stock after acquiring an additional 162,188 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of Organon & Co. worth $3,609,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its holdings in Organon & Co. by 94,482.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock valued at $166,391,000 after purchasing an additional 11,140,388 shares during the last quarter. Norges Bank purchased a new position in shares of Organon & Co. during the fourth quarter valued at approximately $25,258,000. Magnetar Financial LLC grew its stake in shares of Organon & Co. by 560.2% during the fourth quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company's stock valued at $25,878,000 after buying an additional 1,471,731 shares during the last quarter. Brandywine Global Investment Management LLC grew its stake in shares of Organon & Co. by 34.6% during the fourth quarter. Brandywine Global Investment Management LLC now owns 2,029,923 shares of the company's stock valued at $30,286,000 after buying an additional 521,847 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Organon & Co. by 191.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 760,807 shares of the company's stock worth $11,382,000 after buying an additional 499,616 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on OGN. TD Cowen raised Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. Barclays cut their price target 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. Finally, Morgan Stanley reduced 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $20.60.

Organon & Co. Stock Up 0.7 %

Shares of Organon & Co. stock traded up $0.09 during trading on Friday, hitting $12.21. 2,732,148 shares of the stock traded hands, compared to its average volume of 2,716,418. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The stock's fifty day simple moving average is $13.86 and its 200 day simple moving average is $15.16. The firm has a market cap of $3.15 billion, a P/E ratio of 3.67, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73. Organon & Co. has a 52-week low of $10.45 and a 52-week high of $23.10.

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

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders 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 dividend on an annualized basis and a yield of 9.17%. 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.