Townsquare Capital LLC Grows Stake in Organon & Co. (NYSE:OGN)

Townsquare Capital LLC increased its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 229.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,318 shares of the company's stock after purchasing an additional 48,972 shares during the quarter. Townsquare Capital LLC's holdings in Organon & Co. were worth $1,049,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new stake in shares of Organon & Co. during the 3rd quarter worth approximately $437,000. Barclays PLC raised its stake in Organon & Co. by 238.0% during the 3rd quarter. Barclays PLC now owns 119,483 shares of the company's stock worth $2,285,000 after acquiring an additional 84,136 shares in the last quarter. Geode Capital Management LLC lifted its position in Organon & Co. by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,248,108 shares of the company's stock valued at $81,288,000 after acquiring an additional 82,220 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Organon & Co. in the third quarter valued at $185,000. Finally, Optimist Retirement Group LLC purchased a new position in shares of Organon & Co. during the third quarter worth about $1,974,000. 77.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on OGN. Barclays decreased their target price on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. TD Cowen raised Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Finally, Morgan Stanley cut their target price on shares of Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Organon & Co. has an average rating of "Hold" and an average price target of $20.60.

Organon & Co. Trading Up 2.7 %

Shares of OGN stock opened at $11.11 on Friday. The company has a market capitalization of $2.87 billion, a P/E ratio of 3.34, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73. 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 business's 50 day moving average is $14.32 and its two-hundred day moving average is $15.47. Organon & Co. has a twelve month low of $10.75 and a twelve month high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last announced 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 firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. Equities analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 10.08%. The ex-dividend date was Monday, February 24th. Organon & Co.'s dividend payout ratio is presently 33.63%.

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.

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