Royce & Associates LP Purchases 166,300 Shares of Organon & Co. (NYSE:OGN)

Royce & Associates LP raised its position in shares of Organon & Co. (NYSE:OGN) by 23.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 869,394 shares of the company’s stock after acquiring an additional 166,300 shares during the period. Royce & Associates LP owned approximately 0.34% of Organon & Co. worth $12,971,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of OGN. Pacer Advisors Inc. lifted its stake in shares of Organon & Co. by 94,482.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company’s stock valued at $166,391,000 after buying an additional 11,140,388 shares during the period. Geode Capital Management LLC lifted its stake in shares of Organon & Co. by 2.0% in the third quarter. Geode Capital Management LLC now owns 4,248,108 shares of the company’s stock valued at $81,288,000 after buying an additional 82,220 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Organon & Co. by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,333,703 shares of the company’s stock valued at $49,739,000 after buying an additional 10,652 shares during the period. Thompson Siegel & Walmsley LLC lifted its stake in shares of Organon & Co. by 6.4% in the third quarter. Thompson Siegel & Walmsley LLC now owns 2,262,379 shares of the company’s stock valued at $43,279,000 after buying an additional 136,457 shares during the period. Finally, Private Management Group Inc. lifted its stake in shares of Organon & Co. by 11.9% in the fourth quarter. Private Management Group Inc. now owns 2,119,288 shares of the company’s stock valued at $31,620,000 after buying an additional 225,420 shares during the period. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Stock Performance

NYSE OGN opened at $15.63 on Tuesday. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 4.69, a PEG ratio of 0.90 and a beta of 0.76. The company has a 50 day moving average of $15.46 and a 200-day moving average of $16.60. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. Organon & Co. has a 1-year low of $13.87 and a 1-year high of $23.10.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.09). The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. On average, equities analysts forecast that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s dividend payout ratio is currently 33.63%.

Wall Street Analyst Weigh In

A number of research analysts have commented on OGN shares. Morgan Stanley cut their price target on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Finally, Barclays cut their price target on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.80.

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.