Russell Investments Group Ltd. Has $29.78 Million Holdings in Organon & Co. (NYSE:OGN)

Russell Investments Group Ltd. trimmed its holdings in shares of Organon & Co. (NYSE:OGN) by 22.9% in the fourth quarter, HoldingsChannel reports. The firm owned 1,996,056 shares of the company’s stock after selling 593,214 shares during the period. Russell Investments Group Ltd.’s holdings in Organon & Co. were worth $29,780,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OGN. Horizon Bancorp Inc. IN grew its holdings in shares of Organon & Co. by 2,401.5% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after purchasing an additional 1,585 shares during the last quarter. Millstone Evans Group LLC bought a new stake in Organon & Co. during the 4th quarter worth about $29,000. Larson Financial Group LLC increased its position in Organon & Co. by 345.4% in the 4th 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 stake in shares of Organon & Co. by 117.7% in the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock worth $36,000 after acquiring an additional 1,292 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Organon & Co. by 92.2% during the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock worth $41,000 after purchasing an additional 1,324 shares in the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on OGN shares. Barclays dropped their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Morgan Stanley cut their price target on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note 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 given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Organon & Co. has a consensus rating of “Hold” and an average price target of $20.80.

Organon & Co. Stock Down 7.5 %

NYSE:OGN opened at $11.59 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a 12-month low of $11.47 and a 12-month high of $23.10. The stock’s fifty day simple moving average is $14.91 and its 200-day simple moving average is $15.85. The firm has a market capitalization of $2.99 billion, a P/E ratio of 3.48, a P/E/G ratio of 0.90 and a beta of 0.73.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.09). The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. Equities research analysts expect that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 9.67%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s payout ratio is presently 33.63%.

Organon & Co. Company 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.