Everence Capital Management Inc. Purchases Shares of 27,720 Organon & Co. (NYSE:OGN)

Everence Capital Management Inc. purchased a new stake in Organon & Co. (NYSE:OGN) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 27,720 shares of the company’s stock, valued at approximately $400,000.

Several other large investors have also recently added to or reduced their stakes in the company. Quilter Plc acquired a new position in shares of Organon & Co. in the 1st quarter worth approximately $854,973,000. Wellington Shields Capital Management LLC acquired a new position in shares of Organon & Co. in the 4th quarter worth approximately $27,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Organon & Co. by 495.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,602 shares of the company’s stock worth $28,000 after buying an additional 1,333 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of Organon & Co. by 93.3% in the 2nd quarter. Harbour Investments Inc. now owns 1,976 shares of the company’s stock worth $41,000 after buying an additional 954 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Organon & Co. in the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised their price target on Organon & Co. from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th.

Organon & Co. Price Performance

OGN stock opened at $17.86 on Friday. The business has a fifty day moving average price of $18.00 and a 200 day moving average price of $15.62. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $24.79. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 4.47, a P/E/G ratio of 0.85 and a beta of 0.83.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.14. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. On average, equities analysts expect that Organon & Co. will post 4.08 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, February 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.12 dividend on an annualized basis and a yield of 6.27%. Organon & Co.’s payout ratio is 28.00%.

Insider Buying and Selling at Organon & Co.

In other news, insider Kirke Weaver acquired 2,720 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were purchased at an average cost of $18.36 per share, for a total transaction of $49,939.20. Following the transaction, the insider now owns 15,181 shares of the company’s stock, valued at $278,723.16. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.17% of the company’s stock.

About Organon & Co.

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.