Invesco Ltd. Acquires 627,944 Shares of Organon & Co. (NYSE:OGN)

Invesco Ltd. increased its stake in Organon & Co. (NYSE:OGN) by 44.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,034,780 shares of the company’s stock after purchasing an additional 627,944 shares during the quarter. Invesco Ltd. owned approximately 0.79% of Organon & Co. worth $30,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake 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 worth $453,593,000 after buying an additional 218,165 shares during the period. Pacer Advisors Inc. increased its holdings in Organon & Co. by 94,482.1% in the 4th quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company’s stock worth $166,391,000 after acquiring an additional 11,140,388 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Organon & Co. by 1.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,895,067 shares of the company’s stock worth $147,634,000 after acquiring an additional 136,760 shares during the period. Geode Capital Management LLC lifted its holdings in Organon & Co. by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,260,218 shares of the company’s stock valued at $63,582,000 after purchasing an additional 12,110 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Organon & Co. by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,333,703 shares of the company’s stock valued at $49,739,000 after purchasing an additional 10,652 shares in the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Performance

Shares of NYSE OGN opened at $11.11 on Friday. The company has a market cap of $2.87 billion, a P/E ratio of 3.34, a P/E/G ratio of 0.90 and a beta of 0.73. Organon & Co. has a 52-week low of $10.75 and a 52-week high of $23.10. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The firm’s fifty day moving average is $14.32 and its two-hundred day moving average is $15.47.

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 the consensus estimate of $0.92 by ($0.09). The firm had revenue of $1.59 billion during 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%. As a group, analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were issued a dividend of $0.28 per share. The ex-dividend date was Monday, February 24th. This represents a $1.12 annualized dividend and a dividend yield of 10.08%. Organon & Co.’s dividend payout ratio (DPR) is 33.63%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OGN shares. Barclays reduced 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 note on Friday, February 14th. Morgan Stanley decreased their price target on Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Finally, TD Cowen raised Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.60.

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.