Leigh Baldwin & CO. LLC Decreases Stock Position in Organon & Co. (NYSE:OGN)

Leigh Baldwin & CO. LLC cut its holdings in Organon & Co. (NYSE:OGN) by 20.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 12,496 shares of the company’s stock after selling 3,250 shares during the quarter. Leigh Baldwin & CO. LLC’s holdings in Organon & Co. were worth $186,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Treasurer of the State of North Carolina boosted its position in shares of Organon & Co. by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 113,120 shares of the company’s stock worth $1,688,000 after buying an additional 710 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Organon & Co. by 17.6% during the first quarter. SBI Securities Co. Ltd. now owns 7,653 shares of the company’s stock valued at $114,000 after acquiring an additional 1,145 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Organon & Co. by 5.6% during the fourth quarter. Rafferty Asset Management LLC now owns 22,627 shares of the company’s stock valued at $338,000 after acquiring an additional 1,194 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Organon & Co. by 1.5% during the first quarter. Handelsbanken Fonder AB now owns 81,565 shares of the company’s stock valued at $1,215,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Freedom Investment Management Inc. boosted its stake in shares of Organon & Co. by 12.0% during the fourth quarter. Freedom Investment Management Inc. now owns 11,344 shares of the company’s stock valued at $169,000 after acquiring an additional 1,218 shares during the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on OGN shares. Evercore ISI lowered Organon & Co. from an “outperform” rating to an “inline” rating in a research note on Friday, May 2nd. Piper Sandler decreased their price objective on Organon & Co. from $24.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. BNP Paribas raised Organon & Co. to a “strong-buy” rating in a research note on Thursday, May 22nd. Finally, Morgan Stanley decreased their price objective on Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Organon & Co. Stock Performance

NYSE OGN opened at $9.39 on Friday. The business’s 50-day moving average price is $9.75 and its 200 day moving average price is $11.71. Organon & Co. has a twelve month low of $8.01 and a twelve month high of $23.10. The company has a market capitalization of $2.44 billion, a PE ratio of 3.49, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 11.98.

Organon & Co. (NYSE:OGN) last released its earnings results on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.06. Organon & Co. had a return on equity of 163.88% and a net margin of 11.15%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the business posted $1.12 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts predict that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 15th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, August 15th. This represents a $0.08 annualized dividend and a yield of 0.9%. Organon & Co.’s dividend payout ratio is 2.97%.

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.