Massachusetts Financial Services Co. MA Has $101.48 Million Stake in Organon & Co. $OGN

Massachusetts Financial Services Co. MA lowered its position in shares of Organon & Co. (NYSE:OGN) by 7.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,502,102 shares of the company’s stock after selling 735,101 shares during the quarter. Massachusetts Financial Services Co. MA owned about 3.66% of Organon & Co. worth $101,482,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Hanson & Doremus Investment Management acquired a new position in shares of Organon & Co. in the 2nd quarter valued at about $26,000. Hantz Financial Services Inc. increased its holdings in Organon & Co. by 293.8% in the second quarter. Hantz Financial Services Inc. now owns 2,674 shares of the company’s stock worth $26,000 after purchasing an additional 1,995 shares in the last quarter. SouthState Corp increased its holdings in Organon & Co. by 1,857.0% in the second quarter. SouthState Corp now owns 3,914 shares of the company’s stock worth $38,000 after purchasing an additional 3,714 shares in the last quarter. Allworth Financial LP lifted its stake in Organon & Co. by 65.9% in the second quarter. Allworth Financial LP now owns 4,501 shares of the company’s stock valued at $44,000 after buying an additional 1,788 shares during the period. Finally, Laurel Wealth Advisors LLC boosted its holdings in shares of Organon & Co. by 868.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,937 shares of the company’s stock worth $510,000 after buying an additional 4,427 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on OGN. Morgan Stanley lowered 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 note on Tuesday, November 11th. Piper Sandler downgraded shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price target for the company. in a research note on Monday, October 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of Organon & Co. in a research report on Wednesday, October 8th. Wall Street Zen upgraded Organon & Co. from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Finally, Barclays initiated coverage on Organon & Co. in a research report on Tuesday, December 9th. They issued an “underweight” rating and a $7.50 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $8.38.

Organon & Co. Stock Performance

OGN opened at $9.49 on Wednesday. Organon & Co. has a 1-year low of $6.18 and a 1-year high of $17.23. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 4.94, a PEG ratio of 1.82 and a beta of 0.58. The company’s fifty day moving average price is $7.54 and its two-hundred day moving average price is $8.75. The company has a current ratio of 1.75, a quick ratio of 1.20 and a debt-to-equity ratio of 9.69.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Monday, November 10th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a net margin of 7.95% and a return on equity of 143.47%. During the same period last year, the company earned $1.38 earnings per share. On average, analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, November 20th. Organon & Co.’s payout ratio is currently 4.17%.

Organon & Co. Company 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.