Vestcor Inc Takes Position in Organon & Co. (NYSE:OGN)

Vestcor Inc bought a new position in Organon & Co. (NYSE:OGN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 21,520 shares of the company’s stock, valued at approximately $321,000.

Several other hedge funds also recently made changes to their positions in OGN. Prospera Private Wealth LLC bought a new position in shares of Organon & Co. during the third quarter valued at about $25,000. Horizon Bancorp Inc. IN grew its position in shares of Organon & Co. by 2,401.5% in the 4th quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after buying an additional 1,585 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Organon & Co. by 345.4% during the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after buying an additional 1,734 shares during the period. Riverview Trust Co lifted its stake in Organon & Co. by 117.7% in the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock worth $36,000 after acquiring an additional 1,292 shares during the period. Finally, MassMutual Private Wealth & Trust FSB increased its position in Organon & Co. by 32.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock valued at $41,000 after purchasing an additional 672 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Organon & Co. Stock Performance

Organon & Co. stock opened at $15.63 on Tuesday. Organon & Co. has a twelve month low of $13.87 and a twelve month high of $23.10. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The company has a market capitalization of $4.03 billion, a P/E ratio of 4.69, a PEG ratio of 0.90 and a beta of 0.76. The stock’s 50 day moving average is $15.46 and its 200 day moving average is $16.60.

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

Organon & Co. Announces Dividend

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

Organon & Co. 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.