Massachusetts Financial Services Co. MA Has $147.63 Million Stock Holdings in Organon & Co. (NYSE:OGN)

Massachusetts Financial Services Co. MA boosted its holdings in Organon & Co. (NYSE:OGN - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,895,067 shares of the company's stock after acquiring an additional 136,760 shares during the quarter. Massachusetts Financial Services Co. MA owned 3.84% of Organon & Co. worth $147,634,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Organon & Co. by 238.0% during the third quarter. Barclays PLC now owns 119,483 shares of the company's stock valued at $2,285,000 after purchasing an additional 84,136 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of Organon & Co. during the third quarter valued at approximately $32,966,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of Organon & Co. during the fourth quarter valued at approximately $2,263,000. Wedmont Private Capital lifted its position in Organon & Co. by 453.4% in the fourth quarter. Wedmont Private Capital now owns 100,539 shares of the company's stock worth $1,594,000 after purchasing an additional 82,372 shares during the period. Finally, Sippican Capital Advisors boosted its stake in Organon & Co. by 138.7% during the 4th quarter. Sippican Capital Advisors now owns 36,352 shares of the company's stock valued at $542,000 after purchasing an additional 21,122 shares in the last quarter. Institutional investors own 77.43% of the company's stock.

Organon & Co. Trading Down 9.4 %

Shares of OGN stock traded down $1.19 during trading hours on Thursday, reaching $11.46. 1,812,701 shares of the stock traded hands, compared to its average volume of 2,628,417. 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 firm has a market capitalization of $2.95 billion, a PE ratio of 3.43, a PEG ratio of 0.90 and a beta of 0.73. Organon & Co. has a 1-year low of $11.05 and a 1-year high of $23.10. The business has a fifty day moving average price of $14.78 and a 200 day moving average price of $15.78.

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Organon & Co. (NYSE:OGN - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (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 analyst estimates of $1.57 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. On average, equities research analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders 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 dividend yield of 9.78%. Organon & Co.'s dividend payout ratio is 33.63%.

Analyst Ratings Changes

Several brokerages recently weighed in on OGN. Barclays decreased their target price on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Finally, Morgan Stanley dropped their price target on Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $20.60.

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.