Principal Financial Group Inc. boosted its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,248,797 shares of the company's stock after purchasing an additional 32,485 shares during the quarter. Principal Financial Group Inc. owned about 0.48% of Organon & Co. worth $18,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D boosted its holdings in shares of Organon & Co. by 42.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 143,877 shares of the company's stock valued at $2,147,000 after buying an additional 42,817 shares in the last quarter. Philip James Wealth Mangement LLC lifted its position in Organon & Co. by 8.2% during the fourth quarter. Philip James Wealth Mangement LLC now owns 870,603 shares of the company's stock valued at $12,989,000 after acquiring an additional 66,341 shares during the last quarter. Stanley Laman Group Ltd. purchased a new stake in Organon & Co. during the fourth quarter valued at approximately $165,000. Van ECK Associates Corp boosted its stake in Organon & Co. by 91.3% in the fourth quarter. Van ECK Associates Corp now owns 529,482 shares of the company's stock valued at $7,900,000 after acquiring an additional 252,750 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Organon & Co. by 191.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 760,807 shares of the company's stock worth $11,382,000 after purchasing an additional 499,616 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company's stock.
Organon & Co. Stock Performance
OGN traded down $0.14 during trading on Friday, reaching $14.91. 4,596,150 shares of the company's stock were exchanged, compared to its average volume of 2,920,421. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. Organon & Co. has a 1 year low of $13.87 and a 1 year high of $23.10. The company's fifty day simple moving average is $15.43 and its 200-day simple moving average is $17.17. The stock has a market capitalization of $3.84 billion, a P/E ratio of 4.48, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76.
Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.83 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.09). The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. As a group, research analysts predict that Organon & Co. will post 3.68 earnings per share for the current fiscal year.
Organon & Co. Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Monday, February 24th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 7.51%. The ex-dividend date is Monday, February 24th. Organon & Co.'s dividend payout ratio is currently 33.63%.
Analysts Set New Price Targets
Several analysts have recently commented on the company. TD Cowen upgraded Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Barclays decreased their price target 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. Finally, Morgan Stanley dropped 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. One analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Organon & Co. currently has a consensus rating of "Hold" and an average target price of $20.80.
Check Out Our Latest Stock Report on Organon & Co.
Organon & Co. Profile
(
Free Report)
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.
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