SP Asset Management LLC Has $720,000 Stock Holdings in Organon & Co. (NYSE:OGN)

SP Asset Management LLC boosted its holdings in shares of Organon & Co. (NYSE:OGN) by 11.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 48,228 shares of the company’s stock after acquiring an additional 4,945 shares during the period. SP Asset Management LLC’s holdings in Organon & Co. were worth $720,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGN. Pacer Advisors Inc. increased 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 raised 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 worth $81,288,000 after purchasing an additional 82,220 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Organon & Co. by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,333,703 shares of the company’s stock worth $49,739,000 after buying an additional 10,652 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of Organon & Co. by 6.4% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,262,379 shares of the company’s stock worth $43,279,000 after acquiring an additional 136,457 shares during the period. Finally, Private Management Group Inc. lifted its stake in shares of Organon & Co. by 11.9% during the 4th 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 in the last quarter. Institutional investors own 77.43% of the company’s stock.

Analysts Set New Price Targets

OGN has been the topic of a number of recent research reports. Barclays reduced their price target on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Morgan Stanley cut their target price 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. Finally, TD Cowen upgraded Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.80.

Organon & Co. Stock Up 1.1 %

OGN stock opened at $14.45 on Thursday. Organon & Co. has a 12-month low of $13.87 and a 12-month high of $23.10. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 4.34, a PEG ratio of 0.90 and a beta of 0.76. 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 50 day moving average of $15.42 and a two-hundred day moving average of $16.99.

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

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Monday, February 24th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 7.75%. The ex-dividend date is Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) 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.