Bridgewater Associates LP Reduces Stake in Organon & Co. (NYSE:OGN)

Bridgewater Associates LP lessened its holdings in Organon & Co. (NYSE:OGN) by 91.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,047 shares of the company’s stock after selling 185,149 shares during the quarter. Bridgewater Associates LP’s holdings in Organon & Co. were worth $269,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of OGN. Horizon Bancorp Inc. IN increased 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. Millstone Evans Group LLC acquired a new stake in Organon & Co. during the 4th quarter worth about $29,000. Larson Financial Group LLC raised its stake in shares of Organon & Co. by 345.4% during the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after buying an additional 1,734 shares during the last quarter. Riverview Trust Co raised its stake in shares of Organon & Co. by 117.7% during the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock valued at $36,000 after buying an additional 1,292 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Organon & Co. by 92.2% in the 4th quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock valued at $41,000 after buying an additional 1,324 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Trading Up 2.7 %

Shares of NYSE:OGN opened at $11.11 on Monday. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 3.34, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73. The business’s 50 day moving average price is $14.25 and its 200-day moving average price is $15.37. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. Organon & Co. has a 1 year low of $10.75 and a 1 year 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 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. On average, equities research analysts forecast that Organon & Co. will post 3.68 earnings per share for the current fiscal 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 issued a dividend of $0.28 per share. The ex-dividend date was Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 10.08%. Organon & Co.’s payout ratio is currently 33.63%.

Analysts Set New Price Targets

Several research firms have commented on OGN. Barclays lowered their price objective on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley decreased their price objective on shares of Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.60.

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.