Sterling Capital Management LLC Reduces Stock Position in Organon & Co. (NYSE:OGN)

Sterling Capital Management LLC decreased its position in Organon & Co. (NYSE:OGN) by 59.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,486 shares of the company’s stock after selling 44,716 shares during the quarter. Sterling Capital Management LLC’s holdings in Organon & Co. were worth $455,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd raised its position in Organon & Co. by 24.2% during the 4th quarter. Covestor Ltd now owns 11,420 shares of the company’s stock valued at $170,000 after purchasing an additional 2,224 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Organon & Co. by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 113,120 shares of the company’s stock worth $1,688,000 after acquiring an additional 710 shares during the period. LSV Asset Management boosted its holdings in Organon & Co. by 0.4% in the fourth quarter. LSV Asset Management now owns 7,525,076 shares of the company’s stock valued at $112,274,000 after acquiring an additional 30,557 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Organon & Co. during the 4th quarter valued at $4,194,000. Finally, Advisory Services Network LLC raised its holdings in Organon & Co. by 69.9% in the 4th quarter. Advisory Services Network LLC now owns 52,775 shares of the company’s stock worth $787,000 after purchasing an additional 21,718 shares in the last quarter. 77.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

OGN has been the topic of a number of research reports. TD Cowen raised shares of Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Barclays reduced their target price on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Morgan Stanley dropped their price target on Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. One 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.60.

Organon & Co. Stock Performance

Organon & Co. stock opened at $11.11 on Friday. Organon & Co. has a twelve month low of $10.75 and a twelve month high of $23.10. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The company has a market capitalization of $2.87 billion, a P/E ratio of 3.34, a PEG ratio of 0.90 and a beta of 0.73. The stock’s 50 day moving average is $14.25 and its 200 day moving average is $15.41.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results 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 for 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%. On average, equities research 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 disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a $0.28 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a yield of 10.08%. Organon & Co.’s payout ratio is currently 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.