Congress Wealth Management LLC DE Has $1.82 Million Position in Organon & Co. (NYSE:OGN)

Congress Wealth Management LLC DE decreased its position in shares of Organon & Co. (NYSE:OGN) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,851 shares of the company’s stock after selling 13,308 shares during the period. Congress Wealth Management LLC DE’s holdings in Organon & Co. were worth $1,818,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Horizon Bancorp Inc. IN boosted its holdings in shares of Organon & Co. by 2,401.5% in the 4th quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock valued at $25,000 after purchasing an additional 1,585 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in Organon & Co. in the fourth quarter valued at about $29,000. Larson Financial Group LLC grew its position in Organon & Co. by 345.4% in the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after acquiring an additional 1,734 shares during the last quarter. Riverview Trust Co raised its stake in Organon & Co. by 117.7% during the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock worth $36,000 after acquiring an additional 1,292 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Organon & Co. by 32.4% during 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 in the last quarter. 77.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. TD Cowen raised shares of Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. Morgan Stanley decreased their target price on shares of 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, Barclays dropped their price target 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Organon & Co. presently has a consensus rating of “Hold” and an average price target of $20.80.

Organon & Co. Price Performance

OGN stock opened at $14.71 on Thursday. The company has a market capitalization of $3.79 billion, a P/E ratio of 4.42, a PEG ratio of 0.90 and a beta of 0.76. The company has a fifty day moving average price of $15.39 and a 200-day moving average price of $16.31. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. Organon & Co. has a 52-week low of $13.87 and a 52-week high of $23.10.

Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. As a group, equities analysts expect 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 was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 7.62%. The ex-dividend date was Monday, February 24th. Organon & Co.’s payout ratio is presently 33.63%.

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.