Versor Investments LP Trims Stock Holdings in Organon & Co. (NYSE:OGN)

Versor Investments LP decreased its holdings in Organon & Co. (NYSE:OGN) by 12.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 41,226 shares of the company’s stock after selling 5,800 shares during the quarter. Versor Investments LP’s holdings in Organon & Co. were worth $615,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in OGN. Prospera Private Wealth LLC bought a new position in shares of Organon & Co. in the third quarter worth about $25,000. Horizon Bancorp Inc. IN boosted its stake in shares of Organon & Co. by 2,401.5% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after acquiring an additional 1,585 shares during the period. Versant Capital Management Inc boosted its stake in shares of Organon & Co. by 92.2% in the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock worth $41,000 after acquiring an additional 1,324 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Organon & Co. by 32.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock worth $41,000 after acquiring an additional 672 shares during the period. Finally, WFA Asset Management Corp bought a new position in shares of Organon & Co. in the fourth quarter worth about $68,000. Institutional investors own 77.43% of the company’s stock.

Analysts Set New Price Targets

OGN has been the subject of a number of recent analyst reports. TD Cowen raised Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Barclays dropped their price objective on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, Morgan Stanley dropped their price target 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. One investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.80.

Organon & Co. Price Performance

Shares of Organon & Co. stock opened at $14.91 on Friday. The stock has a 50 day moving average of $15.44 and a 200 day moving average of $17.14. Organon & Co. has a 12 month low of $13.87 and a 12 month high of $23.10. The firm has a market cap of $3.84 billion, a PE ratio of 4.48, a PEG ratio of 0.90 and a beta of 0.76. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN) last announced 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). Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. On average, research analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently disclosed 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. This represents a $1.12 annualized dividend and a dividend yield of 7.51%. The ex-dividend date is Monday, February 24th. Organon & Co.’s payout ratio is 33.63%.

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.