Organon & Co. (NYSE:OGN) Stake Lowered by Howard Capital Management Inc.

Howard Capital Management Inc. cut its stake in shares of Organon & Co. (NYSE:OGN) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,927 shares of the company’s stock after selling 11,349 shares during the quarter. Howard Capital Management Inc.’s holdings in Organon & Co. were worth $2,670,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Sippican Capital Advisors lifted its position in Organon & Co. by 4.3% in the third quarter. Sippican Capital Advisors now owns 15,230 shares of the company’s stock worth $291,000 after purchasing an additional 627 shares during the period. Commerce Bank lifted its position in Organon & Co. by 5.5% in the third quarter. Commerce Bank now owns 12,168 shares of the company’s stock worth $233,000 after purchasing an additional 637 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Organon & Co. by 32.4% in 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. Graypoint LLC lifted its position in Organon & Co. by 6.2% in the third quarter. Graypoint LLC now owns 14,555 shares of the company’s stock worth $278,000 after purchasing an additional 853 shares during the period. Finally, CIBC Asset Management Inc lifted its position in Organon & Co. by 4.9% in the fourth quarter. CIBC Asset Management Inc now owns 25,523 shares of the company’s stock worth $381,000 after purchasing an additional 1,184 shares during the period. 77.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley cut their target price on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Barclays cut their target price on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, TD Cowen upgraded Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Organon & Co. currently has an average rating of “Hold” and an average price target of $20.80.

Organon & Co. Price Performance

Shares of NYSE:OGN opened at $15.47 on Friday. Organon & Co. has a one year low of $13.87 and a one year high of $23.10. The stock has a fifty day moving average of $15.36 and a 200-day moving average of $17.27. The company has a market capitalization of $3.98 billion, a PE ratio of 4.64, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.09). Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. As a group, equities analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Monday, February 24th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.24%. Organon & Co.’s payout ratio is currently 33.63%.

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.