Summit Trail Advisors LLC Makes New $185,000 Investment in Organon & Co. (NYSE:OGN)

Summit Trail Advisors LLC acquired a new position in shares of Organon & Co. (NYSE:OGN) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,425 shares of the company’s stock, valued at approximately $185,000.

Several other institutional investors also recently bought and sold shares of OGN. Millstone Evans Group LLC purchased a new position in Organon & Co. during the 4th quarter worth $29,000. Larson Financial Group LLC increased its holdings 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 purchasing an additional 1,734 shares during the period. GeoWealth Management LLC purchased a new position in Organon & Co. during the 4th quarter worth $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Organon & Co. during the 1st quarter worth $60,000. Finally, Jones Financial Companies Lllp increased its holdings in Organon & Co. by 1,795.8% during the 4th quarter. Jones Financial Companies Lllp now owns 4,550 shares of the company’s stock worth $68,000 after purchasing an additional 4,310 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Organon & Co.

In related news, CFO Matthew M. Walsh acquired 11,400 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the chief financial officer directly owned 144,484 shares in the company, valued at $1,274,348.88. The trade was a 8.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kevin Ali acquired 34,000 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were bought at an average price of $8.80 per share, for a total transaction of $299,200.00. Following the acquisition, the chief executive officer owned 282,731 shares of the company’s stock, valued at approximately $2,488,032.80. This represents a 13.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 102,345 shares of company stock worth $902,430. 1.96% of the stock is owned by insiders.

Organon & Co. Trading Down 0.7%

Shares of NYSE:OGN opened at $10.08 on Friday. Organon & Co. has a 12-month low of $8.01 and a 12-month high of $23.10. The business’s fifty day simple moving average is $9.66 and its 200-day simple moving average is $12.90. The company has a market capitalization of $2.62 billion, a PE ratio of 3.50, a P/E/G ratio of 1.06 and a beta of 0.60. The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 16.49.

Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.13. Organon & Co. had a return on equity of 227.43% and a net margin of 11.92%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the prior year, the company posted $1.22 EPS. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. As a group, equities research analysts predict that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.79%. Organon & Co.’s dividend payout ratio (DPR) is currently 2.78%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Evercore ISI downgraded Organon & Co. from an “outperform” rating to an “inline” rating in a report on Friday, May 2nd. BNP Paribas upgraded Organon & Co. to a “strong-buy” rating in a report on Thursday, May 22nd. Morgan Stanley cut their price target 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. Finally, Piper Sandler cut their price target on Organon & Co. from $24.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

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.