Millstone Evans Group LLC Buys Shares of 1,956 Organon & Co. (NYSE:OGN)

Millstone Evans Group LLC purchased a new position in shares of Organon & Co. (NYSE:OGN) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,956 shares of the company’s stock, valued at approximately $29,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Magnetar Financial LLC lifted its holdings in Organon & Co. by 560.2% during the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company’s stock worth $25,878,000 after buying an additional 1,471,731 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Organon & Co. by 18.2% in the fourth quarter. Teacher Retirement System of Texas now owns 76,264 shares of the company’s stock valued at $1,138,000 after acquiring an additional 11,763 shares in the last quarter. Xponance Inc. purchased a new position in Organon & Co. in the fourth quarter valued at $179,000. Advisors Asset Management Inc. grew its stake in Organon & Co. by 6.9% during the 4th quarter. Advisors Asset Management Inc. now owns 706,429 shares of the company’s stock worth $10,540,000 after purchasing an additional 45,865 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in Organon & Co. by 23.7% during the 4th quarter. Royce & Associates LP now owns 869,394 shares of the company’s stock worth $12,971,000 after purchasing an additional 166,300 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

OGN has been the subject of several recent research reports. TD Cowen upgraded Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Barclays lowered their price target on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Morgan Stanley reduced their price objective on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.80.

Organon & Co. Price Performance

Shares of NYSE:OGN opened at $15.35 on Tuesday. Organon & Co. has a 12 month low of $13.87 and a 12 month high of $23.10. The firm has a market capitalization of $3.96 billion, a P/E ratio of 4.61, a P/E/G ratio of 0.90 and a beta of 0.76. 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 company’s fifty day moving average price is $15.43 and its 200 day moving average price is $16.37.

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

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 7.30%. The ex-dividend date of this dividend was Monday, February 24th. 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.