Aviance Capital Partners LLC Takes Position in Organon & Co. (NYSE:OGN)

Aviance Capital Partners LLC purchased a new position in shares of Organon & Co. (NYSE:OGN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,965 shares of the company’s stock, valued at approximately $173,000.

Several other large investors have also recently added to or reduced their stakes in the stock. New York State Teachers Retirement System grew its holdings in Organon & Co. by 20.1% during the 4th quarter. New York State Teachers Retirement System now owns 348,226 shares of the company’s stock valued at $5,021,000 after purchasing an additional 58,321 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Organon & Co. by 417.8% in the fourth quarter. State of Alaska Department of Revenue now owns 157,249 shares of the company’s stock valued at $2,267,000 after purchasing an additional 126,882 shares during the last quarter. KLCM Advisors Inc. grew its stake in Organon & Co. by 60.4% during the 4th quarter. KLCM Advisors Inc. now owns 999,099 shares of the company’s stock valued at $14,407,000 after purchasing an additional 376,055 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Organon & Co. by 59.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 221,461 shares of the company’s stock worth $3,193,000 after purchasing an additional 82,239 shares during the last quarter. Finally, UBS Group AG increased its holdings in Organon & Co. by 88.3% during the 3rd quarter. UBS Group AG now owns 657,912 shares of the company’s stock worth $11,421,000 after purchasing an additional 308,470 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Kirke Weaver purchased 2,720 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were bought at an average price of $18.36 per share, with a total value of $49,939.20. Following the completion of the acquisition, the insider now owns 15,181 shares of the company’s stock, valued at $278,723.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OGN. The Goldman Sachs Group upped their price target on shares of Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Piper Sandler boosted their price objective on Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, April 29th.

Organon & Co. Trading Down 0.2 %

OGN traded down $0.05 on Wednesday, hitting $20.35. 454,636 shares of the company’s stock were exchanged, compared to its average volume of 2,701,825. The stock has a fifty day moving average of $18.30 and a two-hundred day moving average of $15.82. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $24.08. The firm has a market cap of $5.23 billion, a PE ratio of 5.00, a P/E/G ratio of 0.88 and a beta of 0.81.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.14. Organon & Co. had a negative return on equity of 259.73% and a net margin of 16.50%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. On average, analysts predict that Organon & Co. will post 4.1 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Monday, May 13th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, May 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.50%. Organon & Co.’s dividend payout ratio is presently 27.38%.

Organon & Co. Company Profile

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.