Siemens Fonds Invest GmbH Buys New Stake in Organon & Co. (NYSE:OGN)

Siemens Fonds Invest GmbH bought a new stake in Organon & Co. (NYSE:OGN) during the 4th quarter, Holdings Channel reports. The institutional investor bought 603,115 shares of the company’s stock, valued at approximately $8,998,000.

Other large investors have also recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of Organon & Co. by 238.0% during the third quarter. Barclays PLC now owns 119,483 shares of the company’s stock worth $2,285,000 after purchasing an additional 84,136 shares during the last quarter. Drive Wealth Management LLC purchased a new position in shares of Organon & Co. during the fourth quarter worth about $208,000. Blue Trust Inc. grew its holdings in shares of Organon & Co. by 107.6% during the fourth quarter. Blue Trust Inc. now owns 7,599 shares of the company’s stock worth $113,000 after purchasing an additional 3,938 shares during the last quarter. KBC Group NV grew its holdings in shares of Organon & Co. by 66.6% during the fourth quarter. KBC Group NV now owns 12,899 shares of the company’s stock worth $192,000 after purchasing an additional 5,155 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings 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 purchasing an additional 11,140,388 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Insider Buying and Selling

In other Organon & Co. news, CFO Matthew M. Walsh acquired 11,400 shares of the stock in a transaction on Monday, May 5th. The shares were bought at an average price of $8.82 per share, with a total value of $100,548.00. Following the acquisition, the chief financial officer now owns 144,484 shares of the company’s stock, valued at $1,274,348.88. This trade 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 is accessible through this link. Also, insider Kirke Weaver acquired 8,045 shares of the stock in a transaction on Tuesday, May 6th. The stock was acquired at an average cost of $9.21 per share, for a total transaction of $74,094.45. Following the acquisition, the insider now directly owns 52,489 shares in the company, valued at $483,423.69. This represents a 18.10% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 102,345 shares of company stock valued at $902,430 over the last quarter. 1.96% of the stock is currently owned by insiders.

Analyst Ratings Changes

OGN has been the topic of several research reports. 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 report on Monday, May 5th. Evercore ISI lowered Organon & Co. from an “outperform” rating to an “inline” rating in a report on Friday, May 2nd. Piper Sandler dropped their price objective on Organon & Co. from $24.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, May 15th. Finally, Barclays dropped their price objective on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.00.

Organon & Co. Stock Performance

NYSE OGN opened at $8.69 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a 52-week low of $8.01 and a 52-week high of $23.10. The business’s 50-day moving average price is $11.40 and its 200 day moving average price is $13.97. The firm has a market cap of $2.26 billion, a P/E ratio of 2.61, a P/E/G ratio of 0.90 and a beta of 0.75.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) 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 firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter last year, the company posted $1.22 earnings per share. The business’s revenue was down 6.7% on a year-over-year basis. On average, equities research analysts expect that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors 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 dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, May 12th. Organon & Co.’s dividend payout ratio is currently 2.78%.

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.