Van ECK Associates Corp Has $7.90 Million Position in Organon & Co. (NYSE:OGN)

Van ECK Associates Corp increased its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 91.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 529,482 shares of the company's stock after acquiring an additional 252,750 shares during the quarter. Van ECK Associates Corp owned 0.21% of Organon & Co. worth $7,900,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in Organon & Co. during the 3rd quarter worth approximately $25,000. Horizon Bancorp Inc. IN boosted its position in shares of Organon & Co. by 2,401.5% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company's stock worth $25,000 after buying an additional 1,585 shares during the period. Versant Capital Management Inc grew its holdings in shares of Organon & Co. by 92.2% during the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company's stock valued at $41,000 after buying an additional 1,324 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Organon & Co. by 32.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company's stock valued at $41,000 after buying an additional 672 shares during the period. Finally, Abich Financial Wealth Management LLC raised its position in Organon & Co. by 5,646.3% during the third quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company's stock valued at $45,000 after buying an additional 2,315 shares during the period. Hedge funds and other institutional investors own 77.43% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on OGN. TD Cowen upgraded Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. Barclays reduced their price target on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Finally, Morgan Stanley lowered their price objective on shares of Organon & Co. from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. One research 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 stock. According to data from MarketBeat.com, Organon & Co. presently has a consensus rating of "Hold" and a consensus target price of $20.80.

Organon & Co. Stock Down 1.4 %

Shares of OGN traded down $0.23 during midday trading on Friday, reaching $15.47. 3,552,714 shares of the stock were exchanged, compared to its average volume of 2,857,395. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 4.64, a P/E/G ratio of 0.85 and a beta of 0.76. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a 12-month low of $13.87 and a 12-month high of $23.10. The firm has a 50 day simple moving average of $15.36 and a 200-day simple moving average of $17.28.

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 for the quarter, missing the consensus estimate 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 net margin of 13.49% and a return on equity of 431.62%. Research analysts forecast that Organon & Co. will post 3.78 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Monday, February 24th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 7.24%. The ex-dividend date of this dividend is Monday, February 24th. Organon & Co.'s payout ratio is presently 33.63%.

About Organon & Co.

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.