Royce & Associates LP Trims Position in Organon & Co. $OGN

Royce & Associates LP lessened its stake in shares of Organon & Co. (NYSE:OGN) by 92.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,505 shares of the company’s stock after selling 696,419 shares during the period. Royce & Associates LP’s holdings in Organon & Co. were worth $603,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Fox Run Management L.L.C. purchased a new stake in shares of Organon & Co. during the 3rd quarter worth $1,062,000. Bradley Foster & Sargent Inc. CT lifted its position in shares of Organon & Co. by 56.5% during the third quarter. Bradley Foster & Sargent Inc. CT now owns 44,845 shares of the company’s stock valued at $479,000 after buying an additional 16,182 shares during the last quarter. Bleakley Financial Group LLC lifted its position in shares of Organon & Co. by 44.3% during the third quarter. Bleakley Financial Group LLC now owns 141,501 shares of the company’s stock valued at $1,511,000 after buying an additional 43,419 shares during the last quarter. Rothschild Investment LLC boosted its holdings in shares of Organon & Co. by 73.1% in the 3rd quarter. Rothschild Investment LLC now owns 3,899 shares of the company’s stock valued at $42,000 after buying an additional 1,646 shares in the last quarter. Finally, M&G PLC grew its position in shares of Organon & Co. by 8.7% in the 3rd quarter. M&G PLC now owns 942,830 shares of the company’s stock worth $10,371,000 after buying an additional 75,196 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

OGN has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 11th. Barclays raised their price target on Organon & Co. from $7.50 to $8.00 and gave the stock an “underweight” rating in a report on Tuesday, February 24th. Wall Street Zen downgraded shares of Organon & Co. from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Morgan Stanley decreased their price objective on shares of Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 11th. Finally, Zacks Research cut shares of Organon & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $8.50.

Organon & Co. Price Performance

OGN stock opened at $6.58 on Friday. Organon & Co. has a 1 year low of $6.18 and a 1 year high of $16.08. The company has a debt-to-equity ratio of 11.47, a current ratio of 1.82 and a quick ratio of 1.23. The firm has a market capitalization of $1.71 billion, a PE ratio of 9.27, a price-to-earnings-growth ratio of 0.62 and a beta of 0.60. The business has a 50 day simple moving average of $7.97 and a 200-day simple moving average of $8.39.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.63 earnings per share 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 122.01%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the company earned $0.90 EPS. The business’s quarterly revenue was down 5.3% on a year-over-year basis. Equities research analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business 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 dividend of $0.02 per share. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.2%. Organon & Co.’s dividend payout ratio is currently 11.27%.

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.