Fisher Funds Management LTD Invests $1.90 Million in Organon & Co. (NYSE:OGN)

Fisher Funds Management LTD bought a new position in Organon & Co. (NYSE:OGN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 126,716 shares of the company's stock, valued at approximately $1,897,000.

Several other institutional investors also recently modified their holdings of OGN. Blue Trust Inc. increased its holdings in shares of Organon & Co. by 217.5% in the 3rd quarter. Blue Trust Inc. now owns 3,661 shares of the company's stock worth $76,000 after buying an additional 2,508 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Organon & Co. by 6.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 261,191 shares of the company's stock worth $4,997,000 after acquiring an additional 15,187 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Organon & Co. by 137.4% in the third quarter. Sequoia Financial Advisors LLC now owns 28,776 shares of the company's stock valued at $550,000 after acquiring an additional 16,657 shares during the last quarter. International Assets Investment Management LLC raised its position in Organon & Co. by 1,851.8% during the third quarter. International Assets Investment Management LLC now owns 19,089 shares of the company's stock valued at $365,000 after purchasing an additional 18,111 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its stake in Organon & Co. by 5,646.3% during the third quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company's stock worth $45,000 after purchasing an additional 2,315 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.

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Organon & Co. Trading Down 2.9 %

Shares of OGN stock traded down $0.45 during mid-day trading on Thursday, reaching $15.03. The stock had a trading volume of 2,718,023 shares, compared to its average volume of 2,878,877. The stock's 50-day moving average price is $15.42 and its two-hundred day moving average price is $17.18. Organon & Co. has a 52-week low of $13.87 and a 52-week high of $23.10. The firm has a market capitalization of $3.87 billion, a PE ratio of 4.51, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. 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. (NYSE:OGN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.57 billion. Equities analysts expect that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business 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 $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date is Monday, February 24th. Organon & Co.'s payout ratio is currently 33.63%.

Wall Street Analysts Forecast Growth

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

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.