Crestline Management LP Takes Position in Organon & Co. (NYSE:OGN)

Crestline Management LP acquired a new position in Organon & Co. (NYSE:OGN) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 31,045 shares of the company’s stock, valued at approximately $463,000.

Other large investors have also recently added to or reduced their stakes in the company. Horizon Bancorp Inc. IN grew its stake in shares of Organon & Co. by 2,401.5% in 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 in the last quarter. Millstone Evans Group LLC bought a new position in Organon & Co. in the 4th quarter valued at about $29,000. Larson Financial Group LLC raised its position in shares of 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 buying an additional 1,734 shares in the last quarter. Riverview Trust Co lifted its stake in shares of Organon & Co. by 117.7% in the 4th 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 period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings 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 in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on OGN shares. Barclays cut their target price on 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 objective on Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating for the company in a report on Monday, May 5th. TD Cowen raised Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. Finally, Evercore ISI downgraded shares of Organon & Co. from an “outperform” rating to an “inline” rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.00.

Insider Activity

In related news, CFO Matthew M. Walsh acquired 11,400 shares of the company’s stock in a transaction on Monday, May 5th. The shares were purchased 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 $1,274,348.88. This represents a 8.57 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daniel Karp bought 3,500 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $8.24 per share, with a total value of $28,840.00. Following the purchase, the vice president now directly owns 46,669 shares in the company, valued at approximately $384,552.56. This trade represents a 8.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 102,345 shares of company stock worth $902,430 over the last quarter. Corporate insiders own 1.96% of the company’s stock.

Organon & Co. Stock Down 3.3 %

Shares of Organon & Co. stock opened at $8.72 on Friday. Organon & Co. has a 12-month low of $8.05 and a 12-month high of $23.10. The firm has a market capitalization of $2.27 billion, a PE ratio of 2.62, a price-to-earnings-growth ratio of 0.90 and a beta of 0.75. 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 stock’s fifty day moving average is $12.87 and its 200-day moving average is $14.64.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.13. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The business’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 EPS. Equities analysts anticipate 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 paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Monday, May 12th. Organon & Co.’s dividend payout ratio (DPR) is currently 2.78%.

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.