Magnetar Financial LLC Acquires 1,471,731 Shares of Organon & Co. (NYSE:OGN)

Magnetar Financial LLC raised its holdings in Organon & Co. (NYSE:OGN) by 560.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,734,434 shares of the company’s stock after purchasing an additional 1,471,731 shares during the quarter. Magnetar Financial LLC owned 0.67% of Organon & Co. worth $25,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Commerce Bank raised its holdings in shares of Organon & Co. by 5.5% in the 3rd quarter. Commerce Bank now owns 12,168 shares of the company’s stock valued at $233,000 after acquiring an additional 637 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Organon & Co. by 32.4% in the 4th 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. Beam Wealth Advisors Inc. raised its holdings in shares of Organon & Co. by 3.9% in the 4th quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company’s stock valued at $282,000 after acquiring an additional 717 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Organon & Co. by 0.5% in the 4th quarter. HighTower Advisors LLC now owns 163,440 shares of the company’s stock valued at $2,439,000 after acquiring an additional 855 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Organon & Co. by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 25,523 shares of the company’s stock valued at $381,000 after acquiring an additional 1,184 shares in the last quarter. Institutional investors own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

OGN has been the topic of several recent analyst reports. TD Cowen raised Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. Morgan Stanley lowered their price target on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Finally, Barclays decreased their price objective on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.80.

Organon & Co. Stock Performance

Shares of NYSE OGN opened at $15.81 on Thursday. The stock’s 50-day moving average is $15.46 and its 200 day moving average is $16.54. 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 1-year low of $13.87 and a 1-year high of $23.10. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 4.75, a P/E/G ratio of 0.90 and a beta of 0.76.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results 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 return on equity of 431.62% and a net margin of 13.49%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. On average, sell-side analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were given a dividend of $0.28 per share. The ex-dividend date was Monday, February 24th. This represents a $1.12 annualized dividend and a yield of 7.09%. Organon & Co.’s payout ratio is 33.63%.

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.