Carret Asset Management LLC Trims Holdings in Organon & Co. (NYSE:OGN)

Carret Asset Management LLC trimmed its position in Organon & Co. (NYSE:OGN) by 13.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,890 shares of the company’s stock after selling 4,916 shares during the quarter. Carret Asset Management LLC’s holdings in Organon & Co. were worth $476,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in shares of Organon & Co. in the third quarter worth about $25,000. Horizon Bancorp Inc. IN raised its position in Organon & Co. by 2,401.5% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock valued at $25,000 after acquiring an additional 1,585 shares in the last quarter. Larson Financial Group LLC raised its position in Organon & Co. by 345.4% during the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after acquiring an additional 1,734 shares in the last quarter. Riverview Trust Co raised its position in Organon & Co. by 117.7% during the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock valued at $36,000 after acquiring an additional 1,292 shares in the last quarter. Finally, 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 acquiring an additional 672 shares in the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Up 2.5 %

Shares of OGN opened at $15.34 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.21 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 stock’s 50 day moving average is $15.46 and its two-hundred day moving average is $16.72. The firm has a market cap of $3.96 billion, a P/E ratio of 4.61, a PEG ratio of 0.90 and a beta of 0.76.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.83 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 during the quarter, compared to analyst estimates of $1.57 billion. Analysts predict that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date was Monday, February 24th. Organon & Co.’s dividend payout ratio is presently 33.63%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on OGN shares. Morgan Stanley reduced their price target on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Barclays reduced their price target 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. Finally, TD Cowen upgraded Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned 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, the stock currently has a consensus rating of “Hold” and a consensus 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.