230,699 Shares in Organon & Co. (NYSE:OGN) Purchased by Leigh Baldwin & CO. LLC

Leigh Baldwin & CO. LLC acquired a new stake in Organon & Co. (NYSE:OGN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 230,699 shares of the company’s stock, valued at approximately $344,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Organon & Co. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,401,709 shares of the company’s stock worth $453,593,000 after acquiring an additional 218,165 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Organon & Co. by 94,482.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company’s stock worth $166,391,000 after buying an additional 11,140,388 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Organon & Co. by 1.4% in 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 in the last quarter. LSV Asset Management lifted its stake 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 buying an additional 30,557 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its stake in Organon & Co. by 7.0% during the fourth quarter. Deprince Race & Zollo Inc. now owns 4,729,258 shares of the company’s stock worth $70,561,000 after acquiring an additional 308,267 shares in the last quarter. Institutional investors own 77.43% of the company’s stock.

Insider Activity at Organon & Co.

In other news, insider Kirke Weaver purchased 8,045 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $9.21 per share, with a total value of $74,094.45. Following the acquisition, the insider now directly owns 52,489 shares in the company, valued at approximately $483,423.69. This trade represents a 18.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Daniel Karp purchased 3,500 shares of Organon & Co. stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 46,669 shares in the company, valued at approximately $384,552.56. This represents a 8.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 102,345 shares of company stock worth $902,430. Corporate insiders own 1.96% of the company’s stock.

Organon & Co. Price Performance

Organon & Co. stock opened at $8.72 on Monday. The business’s 50 day simple moving average is $12.87 and its 200 day simple moving average is $14.62. Organon & Co. has a 12 month low of $8.05 and a 12 month high of $23.10. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 2.62, a PEG ratio of 0.90 and a beta of 0.75. 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. (NYSE:OGN) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.22 EPS. Sell-side analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.92%. The ex-dividend date is Monday, May 12th. Organon & Co.’s dividend payout ratio (DPR) is presently 2.78%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on OGN shares. Evercore ISI downgraded shares of Organon & Co. from an “outperform” rating to an “inline” rating in a report on Friday, May 2nd. Barclays decreased their price target on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Morgan Stanley dropped their price target on shares of Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, May 5th. Finally, TD Cowen raised shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.