Millstone Evans Group LLC Invests $29,000 in Organon & Co. (NYSE:OGN)

Millstone Evans Group LLC acquired a new stake in Organon & Co. (NYSE:OGN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,956 shares of the company’s stock, valued at approximately $29,000.

Several other hedge funds have also recently added to or reduced their stakes in OGN. Barclays PLC grew its holdings 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 buying an additional 84,136 shares in the last quarter. Weiss Asset Management LP purchased a new stake in Organon & Co. during the 3rd quarter valued at about $32,966,000. Cerity Partners LLC raised its holdings in 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 acquiring an additional 323,308 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Organon & Co. in the 4th quarter worth approximately $2,263,000. Finally, Wedmont Private Capital boosted its holdings in shares of Organon & Co. by 453.4% during the 4th quarter. Wedmont Private Capital now owns 100,539 shares of the company’s stock worth $1,594,000 after purchasing an additional 82,372 shares during the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. TD Cowen upgraded Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Barclays dropped their target price on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Morgan Stanley reduced their price target on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.80.

Organon & Co. Stock Performance

Shares of Organon & Co. stock opened at $15.35 on Tuesday. The firm has a market cap of $3.96 billion, a PE ratio of 4.61, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a 52 week low of $13.87 and a 52 week high of $23.10. The business’s fifty day simple moving average is $15.43 and its 200-day simple moving average is $16.37.

Organon & Co. (NYSE:OGN) last posted its 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 company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. Equities analysts forecast that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 7.30%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s payout ratio is 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.