First Trust Advisors LP Sells 34,179 Shares of Organon & Co. (NYSE:OGN)

First Trust Advisors LP decreased its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,604,572 shares of the company's stock after selling 34,179 shares during the quarter. First Trust Advisors LP owned about 0.62% of Organon & Co. worth $23,940,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Horizon Bancorp Inc. IN increased its stake in Organon & Co. by 2,401.5% during the 4th 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 in the last quarter. Millstone Evans Group LLC bought a new stake in Organon & Co. during the 4th quarter valued at $29,000. Larson Financial Group LLC grew its stake in shares of Organon & Co. by 345.4% in the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company's stock worth $33,000 after acquiring an additional 1,734 shares in the last quarter. Riverview Trust Co grew its stake in shares of Organon & Co. by 117.7% in the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company's stock worth $36,000 after acquiring an additional 1,292 shares in the last quarter. Finally, GeoWealth Management LLC bought a new stake in shares of Organon & Co. in the 4th quarter worth $41,000. Institutional investors and hedge funds own 77.43% of the company's stock.

Organon & Co. Stock Performance

Shares of OGN stock traded up $0.49 during trading hours on Tuesday, hitting $13.21. 5,584,135 shares of the company were exchanged, compared to its average volume of 2,731,475. The firm has a fifty day simple moving average of $13.81 and a 200 day simple moving average of $15.11. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. Organon & Co. has a 52-week low of $10.45 and a 52-week high of $23.10. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 3.97, a P/E/G ratio of 0.90 and a beta of 0.73.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings results 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 431.62% and a net margin of 13.49%. The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.57 billion. Research 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 declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were paid a dividend of $0.28 per share. The ex-dividend date was Monday, February 24th. This represents a $1.12 annualized dividend and a dividend yield of 8.48%. Organon & Co.'s payout ratio is currently 33.63%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OGN. TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a research note on Wednesday, January 15th. Morgan Stanley reduced their target price on shares of Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Finally, Barclays reduced 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 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, Organon & Co. presently has a consensus rating of "Hold" and an average target price of $20.60.

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.