Brandywine Global Investment Management LLC Boosts Stock Position in Organon & Co. (NYSE:OGN)

Brandywine Global Investment Management LLC boosted its position in Organon & Co. (NYSE:OGN) by 34.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,029,923 shares of the company’s stock after acquiring an additional 521,847 shares during the period. Brandywine Global Investment Management LLC’s holdings in Organon & Co. were worth $30,286,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of Organon & Co. during the 3rd quarter worth approximately $113,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Organon & Co. by 8.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,506 shares of the company’s stock worth $1,062,000 after purchasing an additional 4,298 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Organon & Co. by 0.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 836,389 shares of the company’s stock worth $16,000,000 after purchasing an additional 4,029 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Organon & Co. during the 3rd quarter valued at $195,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of Organon & Co. during the 3rd quarter valued at $3,935,000. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Stock Performance

Shares of OGN stock opened at $14.52 on Monday. The business has a fifty day moving average of $15.33 and a 200 day moving average of $16.21. Organon & Co. has a 1 year low of $13.87 and a 1 year high of $23.10. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 4.36, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76.

Organon & Co. (NYSE:OGN) last announced 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 net margin of 13.49% and a return on equity of 431.62%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. As a group, research analysts expect that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.72%. The ex-dividend date was Monday, February 24th. Organon & Co.’s dividend payout ratio is presently 33.63%.

Analysts Set New Price Targets

Several brokerages recently weighed in on OGN. Morgan Stanley dropped their target price on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. TD Cowen upgraded Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Finally, Barclays cut 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.80.

About Organon & Co.

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.