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

Sound Shore Management Inc. CT reduced its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 3.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,968,658 shares of the company's stock after selling 172,426 shares during the quarter. Organon & Co. makes up about 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 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Organon & Co. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 30,401,709 shares of the company's stock worth $453,593,000 after acquiring an additional 218,165 shares during the period. Pacer Advisors Inc. raised its stake 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 valued at $166,391,000 after buying an additional 11,140,388 shares during the last quarter. Geode Capital Management LLC increased its stake in Organon & Co. by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,248,108 shares of the company's stock valued at $81,288,000 after purchasing an additional 82,220 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Organon & Co. by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,333,703 shares of the company's stock valued at $49,739,000 after acquiring an additional 10,652 shares in the last quarter. Finally, Private Management Group Inc. increased its holdings in Organon & Co. by 11.9% in the 4th quarter. Private Management Group Inc. now owns 2,119,288 shares of the company's stock worth $31,620,000 after buying an additional 225,420 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company's stock.

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Organon & Co. Stock Down 3.8 %

Organon & Co. stock traded down $0.59 during midday trading on Tuesday, hitting $14.74. 3,416,269 shares of the company's stock were exchanged, compared to its average volume of 2,413,238. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The company has a market cap of $3.80 billion, a PE ratio of 4.43, a P/E/G ratio of 0.90 and a beta of 0.76. The firm has a 50-day moving average of $15.41 and a two-hundred day moving average of $16.33. Organon & Co. has a 12 month low of $13.87 and a 12 month high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The business had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.57 billion. As a group, analysts expect that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.12 annualized dividend and a yield of 7.60%. Organon & Co.'s dividend payout ratio (DPR) is 33.63%.

Analyst Ratings Changes

Several brokerages recently issued reports on OGN. TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. Morgan Stanley cut their target price on shares of Organon & Co. from $17.00 to $16.00 and set an "equal weight" rating for the company in a research note on Friday, February 14th. Finally, Barclays decreased their price objective on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from 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.