Organon & Co. (NYSE:OGN) Shares Sold by Howard Capital Management Inc.

Howard Capital Management Inc. lessened its stake in shares of Organon & Co. (NYSE:OGN) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 178,927 shares of the company’s stock after selling 11,349 shares during the quarter. Howard Capital Management Inc. owned 0.07% of Organon & Co. worth $2,670,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC lifted its stake in shares of Organon & Co. by 238.0% during the third quarter. Barclays PLC now owns 119,483 shares of the company’s stock worth $2,285,000 after purchasing an additional 84,136 shares in the last quarter. Weiss Asset Management LP acquired a new position in shares of Organon & Co. during the third quarter worth about $32,966,000. Cerity Partners LLC lifted its stake in shares of Organon & Co. by 94.0% during the third quarter. Cerity Partners LLC now owns 667,340 shares of the company’s stock worth $12,766,000 after purchasing an additional 323,308 shares in the last quarter. Foundry Partners LLC acquired a new position in shares of Organon & Co. during the third quarter worth about $7,642,000. Finally, Beddow Capital Management Inc. lifted its stake in shares of Organon & Co. by 38.8% during the third quarter. Beddow Capital Management Inc. now owns 306,675 shares of the company’s stock worth $5,867,000 after purchasing an additional 85,775 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Stock Down 1.4 %

Shares of Organon & Co. stock opened at $15.47 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The firm has a market cap of $3.98 billion, a P/E ratio of 4.64, a P/E/G ratio of 0.90 and a beta of 0.76. Organon & Co. has a fifty-two week low of $13.87 and a fifty-two week high of $23.10. The business has a 50-day moving average price of $15.36 and a 200 day moving average price of $17.27.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. On average, sell-side analysts forecast that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently disclosed 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 7.24%. The ex-dividend date of this dividend is Monday, February 24th. Organon & Co.’s dividend payout ratio is currently 33.63%.

Wall Street Analysts Forecast Growth

OGN has been the topic of a number of recent research reports. Barclays reduced their price objective on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Morgan Stanley cut their price target on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Finally, TD Cowen upgraded Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus 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.