Congress Wealth Management LLC DE Has $1.82 Million Stake in Organon & Co. (NYSE:OGN)

Congress Wealth Management LLC DE reduced its holdings in shares of Organon & Co. (NYSE:OGN) by 9.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 121,851 shares of the company’s stock after selling 13,308 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Organon & Co. were worth $1,818,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Horizon Bancorp Inc. IN boosted its position in shares of Organon & Co. by 2,401.5% during the 4th quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock valued at $25,000 after purchasing an additional 1,585 shares in the last quarter. Millstone Evans Group LLC bought a new stake in Organon & Co. in the fourth quarter worth approximately $29,000. Larson Financial Group LLC lifted its stake in Organon & Co. by 345.4% in the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after buying an additional 1,734 shares during the period. Riverview Trust Co boosted its holdings in shares of Organon & Co. by 117.7% during the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock worth $36,000 after buying an additional 1,292 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Organon & Co. by 32.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock worth $41,000 after buying an additional 672 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Stock Performance

Shares of Organon & Co. stock opened at $14.71 on Thursday. Organon & Co. has a 52 week low of $13.87 and a 52 week high of $23.10. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The business has a 50 day moving average price of $15.39 and a 200-day moving average price of $16.31. The company has a market cap of $3.79 billion, a PE ratio of 4.42, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76.

Organon & Co. (NYSE:OGN) last released its quarterly 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 company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. Equities analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 7.62%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is presently 33.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OGN. Morgan Stanley cut their target price on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. TD Cowen raised shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Finally, Barclays decreased 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. One research analyst has rated the stock with a sell rating, three have assigned 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.com, Organon & Co. currently has an average rating of “Hold” and an average target price of $20.80.

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.