M&G PLC Buys 75,196 Shares of Organon & Co. $OGN

M&G PLC lifted its stake in shares of Organon & Co. (NYSE:OGN) by 8.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 942,830 shares of the company’s stock after purchasing an additional 75,196 shares during the period. M&G PLC’s holdings in Organon & Co. were worth $10,371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of OGN. GAMMA Investing LLC raised its position in Organon & Co. by 22.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,910 shares of the company’s stock worth $74,000 after purchasing an additional 1,265 shares during the last quarter. Rexford Capital Inc. grew its position in shares of Organon & Co. by 14.9% during the 3rd quarter. Rexford Capital Inc. now owns 11,380 shares of the company’s stock worth $122,000 after buying an additional 1,480 shares during the period. Amalgamated Bank increased its stake in Organon & Co. by 1.9% in the third quarter. Amalgamated Bank now owns 79,805 shares of the company’s stock valued at $852,000 after purchasing an additional 1,514 shares in the last quarter. Arizona State Retirement System raised its stake in Organon & Co. by 2.2% during the 3rd quarter. Arizona State Retirement System now owns 76,924 shares of the company’s stock worth $822,000 after buying an additional 1,644 shares during the period. Finally, Allworth Financial LP raised its stake in Organon & Co. by 65.9% during the 2nd quarter. Allworth Financial LP now owns 4,501 shares of the company’s stock worth $44,000 after buying an additional 1,788 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Stock Up 4.6%

NYSE:OGN opened at $7.38 on Tuesday. The company has a debt-to-equity ratio of 9.69, a quick ratio of 1.20 and a current ratio of 1.75. The company has a market cap of $1.92 billion, a PE ratio of 10.40, a PEG ratio of 1.60 and a beta of 0.58. Organon & Co. has a 52-week low of $6.18 and a 52-week high of $16.50. The stock has a 50-day simple moving average of $7.89 and a 200 day simple moving average of $8.56.

Organon & Co. (NYSE:OGN) last released its earnings results on Thursday, February 12th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.10). Organon & Co. had a net margin of 3.01% and a return on equity of 123.06%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The company’s revenue was down 5.3% on a year-over-year basis. On average, sell-side analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Monday, February 23rd will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, February 23rd. Organon & Co.’s payout ratio is currently 11.27%.

Analyst Upgrades and Downgrades

OGN has been the subject of a number of research analyst reports. Barclays assumed coverage on Organon & Co. in a research note on Tuesday, December 9th. They issued an “underweight” rating and a $7.50 target price for the company. Zacks Research lowered Organon & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. Morgan Stanley lowered their target price on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 11th. Wall Street Zen lowered shares of Organon & Co. from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Organon & Co. from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $8.38.

Organon & Co. Profile

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.