Easterly Investment Partners LLC Has $7.25 Million Holdings in Organon & Co. (NYSE:OGN)

Easterly Investment Partners LLC grew its stake in Organon & Co. (NYSE:OGN) by 22.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 486,623 shares of the company’s stock after buying an additional 88,989 shares during the period. Easterly Investment Partners LLC owned approximately 0.19% of Organon & Co. worth $7,246,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in OGN. Vanguard Group Inc. raised its holdings in Organon & Co. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,401,709 shares of the company’s stock valued at $453,593,000 after acquiring an additional 218,165 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Organon & Co. by 8.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,715,445 shares of the company’s stock worth $159,553,000 after acquiring an additional 820,378 shares during the last quarter. LSV Asset Management grew its position in Organon & Co. by 0.4% during the 4th quarter. LSV Asset Management now owns 7,525,076 shares of the company’s stock worth $112,274,000 after acquiring an additional 30,557 shares during the last quarter. Deprince Race & Zollo Inc. grew its position in Organon & Co. by 7.0% during the 4th 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 during the last quarter. Finally, Geode Capital Management LLC grew its position in Organon & Co. by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 4,260,218 shares of the company’s stock worth $63,582,000 after acquiring an additional 12,110 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OGN shares. Morgan Stanley reduced 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 downgraded Organon & Co. from an “outperform” rating to an “inline” rating in a research note on Friday, May 2nd. BNP Paribas raised Organon & Co. to a “strong-buy” rating in a research note on Thursday, May 22nd. Finally, 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 research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Organon & Co. currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Organon & Co. Stock Performance

Shares of Organon & Co. stock opened at $9.64 on Thursday. The company has a market capitalization of $2.50 billion, a PE ratio of 3.35, a PEG ratio of 0.99 and a beta of 0.60. Organon & Co. has a 12 month low of $8.01 and a 12 month high of $23.10. The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 16.49. The stock’s fifty day simple moving average is $9.50 and its 200 day simple moving average is $12.60.

Organon & Co. (NYSE:OGN) last released its 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. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Organon & Co. had a return on equity of 227.43% and a net margin of 11.92%. The company’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 EPS. On average, research analysts predict that Organon & Co. will post 3.68 EPS for the current 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 $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Monday, May 12th. Organon & Co.’s payout ratio is 2.78%.

Insider Buying and Selling

In related news, CFO Matthew M. Walsh acquired 11,400 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was bought at an average price of $8.82 per share, for a total transaction of $100,548.00. Following the acquisition, the chief financial officer directly owned 144,484 shares of the company’s stock, valued at approximately $1,274,348.88. The trade was a 8.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kirke Weaver acquired 8,045 shares of the firm’s stock in a transaction dated 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 acquisition, the insider directly owned 52,489 shares in the company, valued at $483,423.69. This represents a 18.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 102,345 shares of company stock worth $902,430 over the last 90 days. 1.96% of the stock is currently owned by insiders.

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.