Organon & Co. (NYSE:OGN) Holdings Lowered by Graham Capital Management L.P.

Graham Capital Management L.P. decreased its position in Organon & Co. (NYSE:OGN) by 64.2% in the fourth quarter, HoldingsChannel reports. The firm owned 36,105 shares of the company’s stock after selling 64,781 shares during the period. Graham Capital Management L.P.’s holdings in Organon & Co. were worth $539,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Millstone Evans Group LLC purchased a new position in shares of Organon & Co. during the 4th quarter valued at $29,000. Larson Financial Group LLC lifted its position in Organon & Co. by 345.4% during the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock worth $33,000 after acquiring an additional 1,734 shares during the last quarter. Riverview Trust Co boosted its stake in Organon & Co. by 117.7% during the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock valued at $36,000 after purchasing an additional 1,292 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Organon & Co. by 32.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock valued at $41,000 after acquiring an additional 672 shares during the period. Finally, GeoWealth Management LLC acquired a new stake in Organon & Co. in the 4th quarter worth $41,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Trading Up 9.6%

NYSE:OGN opened at $8.81 on Friday. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 2.65, a PEG ratio of 0.90 and a beta of 0.75. The business’s 50-day moving average price is $12.34 and its two-hundred day moving average price is $14.42. 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 $8.01 and a 1-year high of $23.10.

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

Organon & Co. Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Monday, May 12th. Organon & Co.’s dividend payout ratio (DPR) is presently 2.78%.

Analyst Ratings Changes

A number of research firms have recently issued reports on OGN. Piper Sandler lowered their price objective on Organon & Co. from $24.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday. Morgan Stanley cut their target price on shares of Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, May 5th. Barclays reduced their price target on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Finally, Evercore ISI lowered Organon & Co. from an “outperform” rating to an “inline” rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.00.

Insider Buying and Selling

In related news, VP Daniel Karp bought 3,500 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $8.24 per share, with a total value of $28,840.00. Following the completion of the transaction, the vice president now owns 46,669 shares in the company, valued at $384,552.56. The trade was a 8.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew M. Walsh acquired 11,400 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were bought at an average price of $8.82 per share, for a total transaction of $100,548.00. Following the purchase, the chief financial officer now owns 144,484 shares in the company, valued at approximately $1,274,348.88. This represents a 8.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 102,345 shares of company stock worth $902,430. 1.96% of the stock is owned by corporate insiders.

Organon & Co. 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.