Victory Capital Management Inc. Increases Stock Position in Organon & Co. (NYSE:OGN)

Victory Capital Management Inc. grew its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 20.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 221,278 shares of the company's stock after purchasing an additional 37,980 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of Organon & Co. worth $3,301,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Pacer Advisors Inc. raised its position in Organon & Co. by 94,482.1% in the 4th quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock worth $166,391,000 after purchasing an additional 11,140,388 shares during the period. Weiss Asset Management LP purchased a new position in shares of Organon & Co. in the third quarter worth about $32,966,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Organon & Co. by 303.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,242,135 shares of the company's stock worth $23,762,000 after buying an additional 934,505 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Organon & Co. by 35.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company's stock valued at $63,570,000 after acquiring an additional 875,128 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Organon & Co. by 191.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 760,807 shares of the company's stock valued at $11,382,000 after acquiring an additional 499,616 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages have commented on OGN. Morgan Stanley decreased their price target on Organon & Co. from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Friday, February 14th. Barclays decreased 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 note 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 research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.80.

Organon & Co. Trading Down 1.1 %

OGN stock traded down $0.18 on Thursday, reaching $15.62. The company's stock had a trading volume of 2,048,407 shares, compared to its average volume of 2,337,146. The firm has a market cap of $4.03 billion, a PE ratio of 4.70, a PEG ratio of 0.90 and a beta of 0.76. The business has a fifty day simple moving average of $15.46 and a two-hundred day simple moving average of $16.54. Organon & Co. has a 12-month low of $13.87 and a 12-month high of $23.10. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70.

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

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were issued a dividend of $0.28 per share. 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 7.17%. Organon & Co.'s dividend payout ratio (DPR) is 33.63%.

About Organon & Co.

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.