Sound Shore Management Inc. CT Has $74.13 Million Holdings in Organon & Co. (NYSE:OGN)

Sound Shore Management Inc. CT lessened its stake in Organon & Co. (NYSE:OGN) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,968,658 shares of the company’s stock after selling 172,426 shares during the quarter. Organon & Co. accounts for about 2.4% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 20th biggest holding. Sound Shore Management Inc. CT owned about 1.93% of Organon & Co. worth $74,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Organon & Co. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 30,401,709 shares of the company’s stock valued at $453,593,000 after buying an additional 218,165 shares during the period. Napatree Capital LLC acquired a new position in Organon & Co. during the fourth quarter worth $445,000. LPL Financial LLC boosted its holdings in Organon & Co. by 160.7% during the fourth quarter. LPL Financial LLC now owns 457,687 shares of the company’s stock worth $6,829,000 after purchasing an additional 282,150 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in Organon & Co. during the fourth quarter worth $812,000. Finally, American Century Companies Inc. boosted its holdings in Organon & Co. by 4.3% during the fourth quarter. American Century Companies Inc. now owns 42,948 shares of the company’s stock worth $641,000 after purchasing an additional 1,777 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on OGN. TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. Barclays reduced their target price on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Morgan Stanley reduced their target price on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.80.

Organon & Co. Stock Performance

NYSE OGN opened at $15.33 on Monday. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The firm’s fifty day moving average price is $15.44 and its two-hundred day moving average price is $16.41. Organon & Co. has a 1 year low of $13.87 and a 1 year high of $23.10. The firm has a market capitalization of $3.95 billion, a P/E ratio of 4.60, a price-to-earnings-growth 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 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.09). The company had revenue of $1.59 billion during 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%. As a group, research analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 7.31%. The ex-dividend date was 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.