Mitsubishi UFJ Trust & Banking Corp raised its holdings in Organon & Co. (NYSE:OGN - Free Report) by 8.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 578,683 shares of the company's stock after buying an additional 47,176 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.22% of Organon & Co. worth $8,634,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Organon & Co. by 35.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company's stock worth $63,570,000 after acquiring an additional 875,128 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Organon & Co. by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 122,147 shares of the company's stock valued at $2,337,000 after purchasing an additional 1,529 shares in the last quarter. Quantbot Technologies LP bought a new position in Organon & Co. in the third quarter worth about $113,000. Bridgewater Associates LP purchased a new position in shares of Organon & Co. during the 3rd quarter worth approximately $3,887,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Organon & Co. by 8.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,506 shares of the company's stock valued at $1,062,000 after purchasing an additional 4,298 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the stock. TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Morgan Stanley decreased their target price on shares of Organon & Co. from $17.00 to $16.00 and set an "equal weight" rating for the company in a research note on Friday, February 14th. Finally, Barclays lowered their target price on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, three have given 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 company has an average rating of "Hold" and an average target price of $20.80.
Read Our Latest Report on Organon & Co.
Organon & Co. Stock Down 2.0 %
NYSE:OGN traded down $0.30 on Thursday, reaching $14.42. 522,395 shares of the stock traded hands, compared to its average volume of 2,548,248. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 4.33, a PEG 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. has a 12 month low of $13.87 and a 12 month high of $23.10. The company's fifty day simple moving average is $15.26 and its 200 day simple moving average is $16.12.
Organon & Co. (NYSE:OGN - Get Free Report) last announced 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 firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. Equities analysts predict that Organon & Co. will post 3.68 EPS for the current fiscal year.
Organon & Co. Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date was Monday, February 24th. Organon & Co.'s dividend payout ratio (DPR) is 33.63%.
Organon & Co. Company Profile
(
Free Report)
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.
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