Organon & Co. (NYSE:OGN) VP Daniel Karp Purchases 3,500 Shares

Organon & Co. (NYSE:OGN) VP Daniel Karp purchased 3,500 shares of the stock in a transaction on Tuesday, May 6th. The shares were purchased at an average price of $8.24 per share, with a total value of $28,840.00. Following the acquisition, the vice president now owns 46,669 shares in the company, valued at approximately $384,552.56. The trade was a 8.11 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Organon & Co. Price Performance

Shares of NYSE OGN opened at $9.02 on Friday. The firm has a market capitalization of $2.34 billion, a P/E ratio of 2.71, a P/E/G ratio of 0.90 and a beta of 0.75. The firm’s 50-day moving average price is $12.98 and its 200-day moving average price is $14.72. 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 $8.05 and a 1-year high of $23.10.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.13. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the business earned $1.22 EPS. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, May 12th. Organon & Co.’s payout ratio is currently 2.78%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OGN. MassMutual Private Wealth & Trust FSB increased its position in shares of Organon & Co. by 32.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock worth $41,000 after acquiring an additional 672 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in Organon & Co. by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 113,120 shares of the company’s stock worth $1,688,000 after purchasing an additional 710 shares in the last quarter. Beam Wealth Advisors Inc. raised its stake in shares of Organon & Co. by 3.9% in the fourth quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company’s stock worth $282,000 after purchasing an additional 717 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Organon & Co. by 0.5% in the fourth quarter. HighTower Advisors LLC now owns 163,440 shares of the company’s stock valued at $2,439,000 after purchasing an additional 855 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in shares of Organon & Co. by 17.6% during the first quarter. SBI Securities Co. Ltd. now owns 7,653 shares of the company’s stock valued at $114,000 after buying an additional 1,145 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OGN shares. Barclays lowered their target price 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 dropped their price objective on Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday. TD Cowen raised Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Finally, Evercore ISI downgraded Organon & Co. from an “outperform” rating to an “inline” rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.00.

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.