Organon & Co. (NYSE:OGN) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC lessened its stake in shares of Organon & Co. (NYSE:OGN) by 41.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,442,155 shares of the company’s stock after selling 1,032,535 shares during the period. AQR Capital Management LLC’s holdings in Organon & Co. were worth $21,315,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC boosted its holdings in Organon & Co. by 238.0% in the 3rd quarter. Barclays PLC now owns 119,483 shares of the company’s stock valued at $2,285,000 after purchasing an additional 84,136 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Organon & Co. in the third quarter worth approximately $185,000. Tidal Investments LLC increased its stake in Organon & Co. by 10.6% during the third quarter. Tidal Investments LLC now owns 76,525 shares of the company’s stock worth $1,464,000 after acquiring an additional 7,330 shares during the last quarter. Franklin Resources Inc. raised its position in Organon & Co. by 3.9% in the third quarter. Franklin Resources Inc. now owns 344,138 shares of the company’s stock valued at $6,229,000 after purchasing an additional 13,029 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Organon & Co. by 92.2% in the 4th quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock valued at $41,000 after purchasing an additional 1,324 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Wall Street Analysts Forecast Growth

OGN has been the topic of several research analyst reports. Morgan Stanley reduced their price objective on shares of Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. TD Cowen raised shares of Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Barclays dropped their target price on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Evercore ISI cut Organon & Co. from an “outperform” rating to an “inline” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.67.

Organon & Co. Trading Up 1.6 %

NYSE OGN opened at $9.60 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 firm has a market cap of $2.50 billion, a price-to-earnings ratio of 2.88, a PEG ratio of 0.90 and a beta of 0.73. The firm has a 50 day simple moving average of $13.46 and a 200-day simple moving average of $14.92. Organon & Co. has a one year low of $9.18 and a one year high of $23.10.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.89 by $0.13. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the company posted $1.22 EPS. The firm’s revenue was down 6.7% compared to the same quarter last year. Equities research analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Monday, May 12th. Organon & Co.’s dividend payout ratio is currently 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.