KLP Kapitalforvaltning AS Invests $812,000 in Organon & Co. (NYSE:OGN)

KLP Kapitalforvaltning AS purchased a new position in shares of Organon & Co. (NYSE:OGN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 54,400 shares of the company's stock, valued at approximately $812,000.

A number of other large investors have also made changes to their positions in OGN. Quantbot Technologies LP purchased a new position in Organon & Co. in the third quarter valued at about $113,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Organon & Co. by 8.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,506 shares of the company's stock worth $1,062,000 after acquiring an additional 4,298 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Organon & Co. by 0.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 836,389 shares of the company's stock valued at $16,000,000 after purchasing an additional 4,029 shares in the last quarter. Verition Fund Management LLC acquired a new position in Organon & Co. during the third quarter worth $195,000. Finally, Paloma Partners Management Co acquired a new position in Organon & Co. during the third quarter worth $362,000. Hedge funds and other institutional investors own 77.43% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OGN. Morgan Stanley dropped their price target on Organon & Co. from $17.00 to $16.00 and set an "equal weight" rating for the company 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, Barclays lowered their price target on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. One 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $20.80.

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Organon & Co. Trading Down 2.1 %

Shares of NYSE:OGN traded down $0.30 during trading on Thursday, reaching $14.42. The stock had a trading volume of 3,051,871 shares, compared to its average volume of 2,557,992. 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 market cap of $3.72 billion, a P/E ratio of 4.33, a PEG ratio of 0.90 and a beta of 0.76. The business has a fifty day moving average price of $15.26 and a 200-day moving average price of $16.12. Organon & Co. has a fifty-two week low of $13.87 and a fifty-two week high of $23.10.

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 for the quarter, missing analysts' consensus estimates of $0.92 by ($0.09). The business had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. As a group, analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a yield of 7.77%. Organon & Co.'s payout ratio is 33.63%.

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.