Vestcor Inc Takes $321,000 Position in Organon & Co. (NYSE:OGN)

Vestcor Inc acquired a new position in Organon & Co. (NYSE:OGN) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 21,520 shares of the company’s stock, valued at approximately $321,000.

A number of other hedge funds have also bought and sold shares of OGN. Crossmark Global Holdings Inc. grew its stake in shares of Organon & Co. by 43.4% in the third quarter. Crossmark Global Holdings Inc. now owns 20,157 shares of the company’s stock worth $385,000 after acquiring an additional 6,096 shares during the period. Victory Capital Management Inc. grew its position in Organon & Co. by 127.3% in the 3rd quarter. Victory Capital Management Inc. now owns 183,298 shares of the company’s stock worth $3,506,000 after purchasing an additional 102,663 shares during the period. KBC Group NV raised its stake in Organon & Co. by 19.5% during the 3rd quarter. KBC Group NV now owns 7,744 shares of the company’s stock valued at $148,000 after buying an additional 1,263 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Organon & Co. by 7.9% during the 3rd quarter. Natixis Advisors LLC now owns 48,215 shares of the company’s stock valued at $922,000 after buying an additional 3,520 shares during the period. Finally, Aljian Capital Management LLC purchased a new position in shares of Organon & Co. in the 3rd quarter worth $196,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Up 2.1 %

OGN stock opened at $15.63 on Tuesday. The business’s 50-day moving average price is $15.46 and its 200-day moving average price is $16.60. The stock has a market cap of $4.03 billion, a P/E ratio of 4.69, 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. 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 results on Thursday, February 13th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.09). The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. On average, equities research analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

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

Wall Street Analysts Forecast Growth

OGN has been the topic of a number of recent research reports. TD Cowen raised Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. Barclays lowered their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.80.

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.