Prudential Financial Inc. Sells 68,388 Shares of Organon & Co. (NYSE:OGN)

Prudential Financial Inc. decreased its position in Organon & Co. (NYSE:OGN - Free Report) by 10.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 581,171 shares of the company's stock after selling 68,388 shares during the period. Prudential Financial Inc. owned about 0.23% of Organon & Co. worth $8,671,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its position in Organon & Co. by 32.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company's stock valued at $41,000 after buying an additional 672 shares during the period. Beam Wealth Advisors Inc. boosted its holdings in shares of Organon & Co. by 3.9% during the fourth quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company's stock worth $282,000 after purchasing an additional 717 shares during the period. HighTower Advisors LLC grew its stake in shares of Organon & Co. by 0.5% in the fourth quarter. HighTower Advisors LLC now owns 163,440 shares of the company's stock worth $2,439,000 after purchasing an additional 855 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Organon & Co. by 4.9% during the 4th quarter. CIBC Asset Management Inc now owns 25,523 shares of the company's stock valued at $381,000 after purchasing an additional 1,184 shares during the period. Finally, Deseret Mutual Benefit Administrators increased its holdings in Organon & Co. by 24.3% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 6,256 shares of the company's stock valued at $93,000 after purchasing an additional 1,222 shares during the period. Institutional investors own 77.43% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Morgan Stanley cut their price objective on 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 shares of Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Finally, Barclays reduced their price objective 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. 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.80.

Organon & Co. Stock Down 2.1 %

Shares of NYSE OGN traded down $0.30 during mid-day trading on Thursday, hitting $14.42. 3,051,888 shares of the stock traded hands, compared to its average volume of 2,559,335. The company has a market cap 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 stock has a fifty day moving average price of $15.22 and a 200-day moving average price of $16.10. Organon & Co. has a 52 week low of $13.87 and a 52 week 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 announced its earnings results on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.09). The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. Research analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were issued 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 presently 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.