Prudential Financial Inc. Cuts Stake in Organon & Co. (NYSE:OGN)

Prudential Financial Inc. decreased its position in Organon & Co. (NYSE:OGN) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 581,171 shares of the company’s stock after selling 68,388 shares during the period. Prudential Financial Inc.’s holdings in Organon & Co. were worth $8,671,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in OGN. Barclays PLC boosted its holdings in Organon & Co. by 238.0% in the 3rd quarter. Barclays PLC now owns 119,483 shares of the company’s stock valued at $2,285,000 after purchasing an additional 84,136 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of Organon & Co. in the 3rd quarter valued at approximately $32,966,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Organon & Co. in the fourth quarter valued at approximately $2,263,000. Wedmont Private Capital grew its holdings in Organon & Co. by 453.4% during the fourth quarter. Wedmont Private Capital now owns 100,539 shares of the company’s stock worth $1,594,000 after acquiring an additional 82,372 shares during the period. Finally, Sippican Capital Advisors raised its position in Organon & Co. by 138.7% in the fourth quarter. Sippican Capital Advisors now owns 36,352 shares of the company’s stock worth $542,000 after acquiring an additional 21,122 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Barclays decreased their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Morgan Stanley reduced 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 report on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.80.

Organon & Co. Stock Performance

NYSE:OGN opened at $14.52 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The company has a market capitalization of $3.74 billion, a P/E ratio of 4.36, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. The firm has a 50-day moving average price of $15.33 and a two-hundred day moving average price of $16.24. Organon & Co. has a twelve month low of $13.87 and a twelve month high of $23.10.

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

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were issued a $0.28 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.72%. Organon & Co.’s dividend payout ratio (DPR) is 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.