1,692,916 Shares in Organon & Co. (NYSE:OGN) Purchased by Norges Bank

Norges Bank acquired a new position in Organon & Co. (NYSE:OGN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,692,916 shares of the company's stock, valued at approximately $25,258,000. Norges Bank owned approximately 0.66% of Organon & Co. at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Horizon Bancorp Inc. IN increased its position in shares of Organon & Co. by 2,401.5% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company's stock valued at $25,000 after buying an additional 1,585 shares during the period. Millstone Evans Group LLC purchased a new position in shares of Organon & Co. during the 4th quarter worth approximately $29,000. Larson Financial Group LLC grew its holdings in shares of Organon & Co. by 345.4% during 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 during the period. Riverview Trust Co raised its position 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, Versant Capital Management Inc boosted its position in shares of Organon & Co. by 92.2% during the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company's stock valued at $41,000 after purchasing an additional 1,324 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Organon & Co. Stock Down 2.3 %

Shares of NYSE:OGN traded down $0.27 on Friday, hitting $11.17. 5,055,884 shares of the company traded hands, compared to its average volume of 2,651,118. The stock has a 50 day simple moving average of $14.64 and a 200-day simple moving average of $15.67. 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 company has a market cap of $2.88 billion, a PE ratio of 3.35, a PEG ratio of 0.90 and a beta of 0.73. Organon & Co. has a 52 week low of $10.94 and a 52 week high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.09). The firm 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, research analysts expect that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Dividend Announcement

The company also recently disclosed 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 10.03%. Organon & Co.'s payout ratio is currently 33.63%.

Wall Street Analyst Weigh In

OGN has been the subject of a number of research reports. Morgan Stanley decreased their price objective on Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating for the company in a report on Wednesday. Barclays reduced their target price 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. Finally, TD Cowen raised shares of Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $20.60.

Organon & Co. 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.