Organon & Co. (NYSE:OGN) Shares Sold by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT lessened its holdings in Organon & Co. (NYSE:OGN - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,968,658 shares of the company's stock after selling 172,426 shares during the period. Organon & Co. comprises approximately 2.4% of Sound Shore Management Inc. CT's holdings, making the stock its 20th biggest holding. Sound Shore Management Inc. CT owned about 1.93% of Organon & Co. worth $74,132,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Pacer Advisors Inc. raised its stake in shares of Organon & Co. by 94,482.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock valued at $166,391,000 after purchasing an additional 11,140,388 shares during the period. Weiss Asset Management LP acquired a new stake in Organon & Co. during the 3rd quarter valued at $32,966,000. Magnetar Financial LLC grew its holdings in Organon & Co. by 560.2% during the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company's stock valued at $25,878,000 after purchasing an additional 1,471,731 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in 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 buying an additional 934,505 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Organon & Co. by 35.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company's stock worth $63,570,000 after buying an additional 875,128 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company's stock.

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Organon & Co. Stock Down 0.3 %

Organon & Co. stock traded down $0.05 during midday trading on Friday, hitting $14.52. The stock had a trading volume of 1,866,865 shares, compared to its average volume of 2,538,684. 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 stock has a market cap of $3.74 billion, a P/E ratio of 4.36, a P/E/G ratio of 0.90 and a beta of 0.76. Organon & Co. has a 12 month low of $13.87 and a 12 month high of $23.10. The business has a fifty day moving average price of $15.33 and a 200 day moving average price of $16.26.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. Research analysts predict that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OGN. TD Cowen upgraded Organon & Co. to a "hold" rating in a research note on Wednesday, January 15th. Morgan Stanley dropped their price objective on Organon & Co. from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. Finally, Barclays reduced their target price 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Organon & Co. has a consensus rating of "Hold" and an average target price of $20.80.

Organon & Co. 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.