Sound Income Strategies LLC Acquires 39,726 Shares of Organon & Co. (NYSE:OGN)

Sound Income Strategies LLC boosted its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 651,106 shares of the company's stock after buying an additional 39,726 shares during the quarter. Sound Income Strategies LLC owned about 0.25% of Organon & Co. worth $9,714,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Prospera Private Wealth LLC bought a new stake in shares of Organon & Co. during the 3rd quarter worth about $25,000. Horizon Bancorp Inc. IN grew its holdings in Organon & Co. by 2,401.5% in the 4th quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company's stock valued at $25,000 after buying an additional 1,585 shares during the last quarter. William B. Walkup & Associates Inc. bought a new stake in shares of Organon & Co. in the second quarter valued at approximately $31,000. Versant Capital Management Inc grew its stake in shares of Organon & Co. by 92.2% in the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company's stock worth $41,000 after acquiring an additional 1,324 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Organon & Co. by 32.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company's stock worth $41,000 after acquiring an additional 672 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Organon & Co. currently has an average rating of "Hold" and an average target price of $21.33.

Organon & Co. Stock Performance

OGN traded down $0.44 on Friday, hitting $15.97. 2,174,369 shares of the stock traded hands, compared to its average volume of 2,635,394. The business has a fifty day moving average price of $15.35 and a two-hundred day moving average price of $18.12. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. Organon & Co. has a 52 week low of $13.87 and a 52 week high of $23.10. The firm has a market capitalization of $4.11 billion, a PE ratio of 3.17, a P/E/G ratio of 0.87 and a beta of 0.76.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.03). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The company's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.78 earnings per share. On average, research analysts predict that Organon & Co. will post 3.82 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.28 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.01%. Organon & Co.'s payout ratio is presently 22.22%.

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.