Norden Group LLC Acquires New Shares in Organon & Co. (NYSE:OGN)

Norden Group LLC bought a new position in Organon & Co. (NYSE:OGN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 20,560 shares of the company's stock, valued at approximately $307,000.

Several other institutional investors have also recently made changes to their positions in OGN. Pacer Advisors Inc. raised its stake in Organon & Co. by 94,482.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock valued at $166,391,000 after buying an additional 11,140,388 shares during the last quarter. Weiss Asset Management LP purchased a new position in shares of Organon & Co. in the third quarter worth $32,966,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Organon & Co. by 303.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,242,135 shares of the company's stock valued at $23,762,000 after purchasing an additional 934,505 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Organon & Co. by 35.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company's stock valued at $63,570,000 after purchasing an additional 875,128 shares in the last quarter. Finally, Philip James Wealth Mangement LLC purchased a new stake in shares of Organon & Co. during the third quarter valued at $15,386,000. Institutional investors own 77.43% of the company's stock.

Organon & Co. Trading Up 1.1 %

Shares of OGN stock traded up $0.16 on Wednesday, reaching $14.45. 2,912,428 shares of the company's stock were exchanged, compared to its average volume of 2,304,003. The company's fifty day simple moving average is $15.42 and its 200 day simple moving average is $16.99. Organon & Co. has a 52 week low of $13.87 and a 52 week high of $23.10. 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 has a market capitalization of $3.72 billion, a PE ratio of 4.34, a P/E/G ratio of 0.90 and a beta of 0.76.

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

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Monday, February 24th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a yield of 7.75%. Organon & Co.'s dividend payout ratio is currently 33.63%.

Analyst Ratings Changes

A number of research analysts recently weighed in on OGN shares. Morgan Stanley lowered their price objective on shares of Organon & Co. from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. TD Cowen upgraded Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. Finally, Barclays decreased their price target on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. One research 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. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $20.80.

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.