Fisher Funds Management LTD Makes New $1.90 Million Investment in Organon & Co. (NYSE:OGN)

Fisher Funds Management LTD purchased a new stake in Organon & Co. (NYSE:OGN) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 126,716 shares of the company’s stock, valued at approximately $1,897,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of OGN. Deseret Mutual Benefit Administrators increased its stake in shares of Organon & Co. by 24.3% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 6,256 shares of the company’s stock valued at $93,000 after acquiring an additional 1,222 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in Organon & Co. in the fourth quarter worth $2,820,000. Handelsbanken Fonder AB increased its stake in Organon & Co. by 17.8% in the fourth quarter. Handelsbanken Fonder AB now owns 80,365 shares of the company’s stock valued at $1,199,000 after purchasing an additional 12,115 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Organon & Co. by 730.9% during the fourth quarter. Global Retirement Partners LLC now owns 8,284 shares of the company’s stock valued at $124,000 after purchasing an additional 7,287 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in shares of Organon & Co. by 10.1% during the fourth quarter. New York State Common Retirement Fund now owns 479,433 shares of the company’s stock valued at $7,153,000 after purchasing an additional 43,928 shares during the period. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Price Performance

OGN stock opened at $15.47 on Monday. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The business has a 50-day simple moving average of $15.36 and a two-hundred day simple moving average of $17.26. The company has a market capitalization of $3.98 billion, a P/E ratio of 4.64, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. Organon & Co. has a 52-week low of $13.87 and a 52-week high of $23.10.

Organon & Co. (NYSE:OGN) last announced its 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). The company 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%. Research analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Monday, February 24th will be paid a $0.28 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.12 annualized dividend and a dividend yield of 7.24%. Organon & Co.’s payout ratio is 33.63%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. TD Cowen raised Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Morgan Stanley reduced their price objective on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Finally, Barclays lowered their target price on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.