Advent Capital Management DE Purchases 75,000 Shares of Organon & Co. (NYSE:OGN)

Advent Capital Management DE increased its position in Organon & Co. (NYSE:OGN) by 60.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 200,000 shares of the company’s stock after acquiring an additional 75,000 shares during the quarter. Advent Capital Management DE owned about 0.08% of Organon & Co. worth $2,984,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Verition Fund Management LLC purchased a new position in shares of Organon & Co. in the 3rd quarter worth about $195,000. Wellington Management Group LLP purchased a new position in Organon & Co. during the 3rd quarter valued at about $437,000. Barclays PLC boosted its holdings in Organon & Co. by 238.0% in the third quarter. Barclays PLC now owns 119,483 shares of the company’s stock valued at $2,285,000 after acquiring an additional 84,136 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Organon & Co. by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,248,108 shares of the company’s stock valued at $81,288,000 after purchasing an additional 82,220 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Organon & Co. during the 3rd quarter valued at about $185,000. 77.43% of the stock is owned by institutional investors.

Organon & Co. Price Performance

OGN stock opened at $11.07 on Wednesday. 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 company’s fifty day moving average price is $14.48 and its 200-day moving average price is $15.56. Organon & Co. has a one year low of $10.94 and a one year high of $23.10. The company has a market capitalization of $2.85 billion, a PE ratio of 3.32, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.57 billion. On average, equities analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 10.12%. The ex-dividend date was Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is presently 33.63%.

Analyst Ratings Changes

OGN has been the subject of several analyst reports. Morgan Stanley reduced their price target on Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. Barclays decreased 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, TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Organon & Co. presently has an average rating of “Hold” and an average target price of $20.60.

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.