Gotham Asset Management LLC Buys 1,590 Shares of Organon & Co. (NYSE:OGN)

Gotham Asset Management LLC boosted its stake in Organon & Co. (NYSE:OGN) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 803,314 shares of the company’s stock after acquiring an additional 1,590 shares during the period. Gotham Asset Management LLC owned 0.31% of Organon & Co. worth $11,985,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in OGN. MassMutual Private Wealth & Trust FSB raised 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 purchasing an additional 672 shares during the period. Treasurer of the State of North Carolina raised its position in Organon & Co. by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 113,120 shares of the company’s stock valued at $1,688,000 after buying an additional 710 shares during the last quarter. Beam Wealth Advisors Inc. raised its position in Organon & Co. by 3.9% in the 4th quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company’s stock valued at $282,000 after buying an additional 717 shares during the last quarter. HighTower Advisors LLC raised its position in Organon & Co. by 0.5% in the 4th quarter. HighTower Advisors LLC now owns 163,440 shares of the company’s stock valued at $2,439,000 after buying an additional 855 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in Organon & Co. by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 25,523 shares of the company’s stock valued at $381,000 after buying an additional 1,184 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.

Insider Transactions at Organon & Co.

In other news, VP Daniel Karp purchased 3,500 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $8.24 per share, for a total transaction of $28,840.00. Following the purchase, the vice president now owns 46,669 shares of the company’s stock, valued at $384,552.56. The trade was a 8.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kirke Weaver bought 8,045 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was bought at an average price of $9.21 per share, with a total value of $74,094.45. Following the purchase, the insider now owns 52,489 shares in the company, valued at $483,423.69. This trade represents a 18.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 102,345 shares of company stock worth $902,430. 1.96% of the stock is owned by company insiders.

Organon & Co. Stock Down 3.3%

Shares of NYSE:OGN opened at $8.72 on Monday. The company 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 debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. The business has a fifty day moving average price of $12.87 and a two-hundred day moving average price of $14.62. 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 the consensus estimate of $0.89 by $0.13. The company had revenue of $1.51 billion during 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 firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 EPS. Analysts forecast that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.02 per share. The ex-dividend date is Monday, May 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.92%. Organon & Co.’s payout ratio is 2.78%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OGN. Morgan Stanley lowered their price target on Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, May 5th. Evercore ISI lowered Organon & Co. from an “outperform” rating to an “inline” rating in a research report on Friday, May 2nd. TD Cowen raised Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Finally, Barclays reduced their price objective on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.