Russell Investments Group Ltd. Has $29.78 Million Stock Holdings in Organon & Co. (NYSE:OGN)

Russell Investments Group Ltd. reduced its holdings in Organon & Co. (NYSE:OGN - Free Report) by 22.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,996,056 shares of the company's stock after selling 593,214 shares during the quarter. Russell Investments Group Ltd. owned 0.78% of Organon & Co. worth $29,780,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its stake in shares of Organon & Co. by 203.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 241,910 shares of the company's stock worth $3,609,000 after acquiring an additional 162,188 shares in the last quarter. Wells Fargo & Company MN boosted its position in Organon & Co. by 28.6% during the 4th quarter. Wells Fargo & Company MN now owns 262,746 shares of the company's stock worth $3,920,000 after acquiring an additional 58,378 shares during the period. Foundry Partners LLC increased its holdings in shares of Organon & Co. by 2.7% in the 4th quarter. Foundry Partners LLC now owns 410,457 shares of the company's stock valued at $6,124,000 after purchasing an additional 10,963 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Organon & Co. by 1.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,895,067 shares of the company's stock worth $147,634,000 after purchasing an additional 136,760 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Organon & Co. by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,260,218 shares of the company's stock valued at $63,582,000 after purchasing an additional 12,110 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors.

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Organon & Co. Stock Performance

Organon & Co. stock traded up $0.18 during mid-day trading on Monday, reaching $11.36. The company had a trading volume of 688,985 shares, compared to its average volume of 3,468,206. 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 cap of $2.93 billion, a price-to-earnings ratio of 3.41, a PEG ratio of 0.90 and a beta of 0.73. The company has a 50 day moving average of $14.64 and a 200-day moving average of $15.64. Organon & Co. has a 52 week low of $10.94 and a 52 week high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings data 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 return on equity of 431.62% and a net margin of 13.49%. On average, sell-side analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal 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 dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 9.86%. The ex-dividend date was Monday, February 24th. Organon & Co.'s payout ratio is presently 33.63%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OGN. Barclays dropped their price target 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. Morgan Stanley dropped their target price on Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Finally, TD Cowen upgraded Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.