Organon & Co. (NYSE:OGN) Shares Sold by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd lowered its stake in Organon & Co. (NYSE:OGN) by 13.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,531 shares of the company’s stock after selling 1,899 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Organon & Co. were worth $187,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Pacer Advisors Inc. raised its position in Organon & Co. by 94,482.1% in 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 shares of Organon & Co. in the third quarter valued at $32,966,000. Norges Bank purchased a new stake in shares of Organon & Co. in the 4th quarter valued at $25,258,000. Magnetar Financial LLC lifted its stake in Organon & Co. by 560.2% during the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company’s stock worth $25,878,000 after acquiring an additional 1,471,731 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings 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 valued at $23,762,000 after acquiring an additional 934,505 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Trading Down 5.2 %

NYSE OGN opened at $14.12 on Wednesday. Organon & Co. has a 52 week low of $13.87 and a 52 week high of $23.10. The firm has a 50 day moving average of $15.28 and a two-hundred day moving average of $16.13. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The stock has a market capitalization of $3.64 billion, a PE ratio of 4.24, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.57 billion. As a group, research analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 7.93%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is presently 33.63%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OGN. Morgan Stanley reduced their price target 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. TD Cowen raised shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Finally, Barclays dropped 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 note on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Organon & Co. presently has an average 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.