Peregrine Capital Management LLC Sells 9,897 Shares of Organon & Co. (NYSE:OGN)

Peregrine Capital Management LLC decreased its stake in Organon & Co. (NYSE:OGN) by 3.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,361 shares of the company’s stock after selling 9,897 shares during the period. Peregrine Capital Management LLC owned 0.11% of Organon & Co. worth $4,243,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of OGN. Sippican Capital Advisors grew its stake in Organon & Co. by 4.3% in the third quarter. Sippican Capital Advisors now owns 15,230 shares of the company’s stock valued at $291,000 after purchasing an additional 627 shares in the last quarter. Commerce Bank boosted its holdings in shares of Organon & Co. by 5.5% in the 3rd quarter. Commerce Bank now owns 12,168 shares of the company’s stock valued at $233,000 after buying an additional 637 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Organon & Co. by 32.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock valued at $41,000 after buying an additional 672 shares in the last quarter. Graypoint LLC grew its stake in shares of Organon & Co. by 6.2% in the third quarter. Graypoint LLC now owns 14,555 shares of the company’s stock valued at $278,000 after buying an additional 853 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Organon & Co. by 4.9% during the fourth quarter. CIBC Asset Management Inc now owns 25,523 shares of the company’s stock worth $381,000 after buying an additional 1,184 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Organon & Co. Stock Performance

Shares of OGN stock opened at $15.32 on Thursday. Organon & Co. has a 52 week low of $13.87 and a 52 week high of $23.10. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 4.60, a PEG ratio of 0.85 and a beta of 0.76. The company has a 50-day simple moving average of $15.35 and a 200 day simple moving average of $17.32. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $1.57 billion. On average, sell-side analysts predict that Organon & Co. will post 3.78 earnings per share for the current year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, February 24th. This represents a $1.12 annualized dividend and a dividend yield of 7.31%. Organon & Co.’s dividend payout ratio is presently 33.63%.

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.