CM Management LLC Has $2.24 Million Stake in Organon & Co. (NYSE:OGN)

CM Management LLC increased its position in shares of Organon & Co. (NYSE:OGN) by 50.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 150,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. Organon & Co. comprises approximately 1.9% of CM Management LLC’s portfolio, making the stock its 20th biggest holding. CM Management LLC’s holdings in Organon & Co. were worth $2,238,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in OGN. Barclays PLC boosted its stake in shares of Organon & Co. by 238.0% in the third quarter. Barclays PLC now owns 119,483 shares of the company’s stock valued at $2,285,000 after buying an additional 84,136 shares during the period. Weiss Asset Management LP bought a new position in Organon & Co. in the 3rd quarter valued at about $32,966,000. Cerity Partners LLC raised its position in shares of Organon & Co. by 94.0% in the 3rd quarter. Cerity Partners LLC now owns 667,340 shares of the company’s stock valued at $12,766,000 after buying an additional 323,308 shares in the last quarter. Foundry Partners LLC bought a new stake in shares of Organon & Co. during the 3rd quarter worth approximately $7,642,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of Organon & Co. during the 4th quarter worth approximately $2,263,000. 77.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OGN has been the subject of several research analyst reports. Barclays lowered 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. Morgan Stanley decreased their price target on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Finally, TD Cowen raised shares of Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. 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 issued a strong buy rating to the stock. According to data from MarketBeat, Organon & Co. has a consensus rating of “Hold” and an average target price of $20.80.

Organon & Co. Stock Up 3.9 %

Shares of NYSE OGN opened at $15.44 on Friday. 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 cap of $3.98 billion, a PE ratio of 4.64, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. The company has a 50 day simple moving average of $15.42 and a 200 day simple moving average of $16.91.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.83 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 return on equity of 431.62% and a net margin of 13.49%. On average, research analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Monday, February 24th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 7.26%. The ex-dividend date is Monday, February 24th. Organon & Co.’s payout ratio is presently 33.63%.

Organon & Co. Company 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.