Raymond James Financial Inc. Buys New Position in Organon & Co. (NYSE:OGN)

Raymond James Financial Inc. acquired a new stake in shares of Organon & Co. (NYSE:OGN - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 281,110 shares of the company's stock, valued at approximately $4,194,000. Raymond James Financial Inc. owned about 0.11% of Organon & Co. as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of OGN. Pacer Advisors Inc. grew its holdings in Organon & Co. by 94,482.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock worth $166,391,000 after acquiring an additional 11,140,388 shares during the period. Weiss Asset Management LP purchased a new stake in Organon & Co. in the 3rd quarter worth approximately $32,966,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Organon & Co. by 303.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,242,135 shares of the company's stock worth $23,762,000 after purchasing an additional 934,505 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Organon & Co. by 35.7% during 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 purchasing an additional 875,128 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of 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 purchasing an additional 499,616 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company's stock.

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Organon & Co. Trading Down 0.3 %

Organon & Co. stock traded down $0.05 during mid-day trading on Friday, hitting $14.52. The company's stock had a trading volume of 1,866,865 shares, compared to its average volume of 2,538,684. The stock's fifty day moving average is $15.33 and its two-hundred day moving average is $16.21. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The firm has a market capitalization of $3.74 billion, a PE ratio of 4.36, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. Organon & Co. has a 1 year low of $13.87 and a 1 year high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. On average, analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.72%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.'s dividend payout ratio (DPR) is 33.63%.

Analyst Upgrades and Downgrades

Several research firms recently commented on OGN. Morgan Stanley dropped their price target on shares of 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. Barclays lowered their price target on 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 upgraded shares of Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.80.

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.