AlphaQuest LLC Decreases Stock Position in Organon & Co. (NYSE:OGN)

AlphaQuest LLC lowered its stake in Organon & Co. (NYSE:OGN) by 76.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,288 shares of the company’s stock after selling 29,653 shares during the quarter. AlphaQuest LLC’s holdings in Organon & Co. were worth $139,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC raised its position in shares of Organon & Co. by 238.0% during the 3rd quarter. Barclays PLC now owns 119,483 shares of the company’s stock valued at $2,285,000 after buying an additional 84,136 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Organon & Co. during the 3rd quarter valued at about $32,966,000. Cerity Partners LLC raised its position in shares of Organon & Co. by 94.0% during the 3rd quarter. Cerity Partners LLC now owns 667,340 shares of the company’s stock valued at $12,766,000 after buying an additional 323,308 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Organon & Co. during the 3rd quarter valued at about $7,642,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of Organon & Co. during the 4th quarter valued at about $2,263,000. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Performance

Organon & Co. stock opened at $15.63 on Tuesday. 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 $13.87 and a 1-year high of $23.10. The firm has a market capitalization of $4.03 billion, a P/E ratio of 4.69, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. The company’s 50-day moving average is $15.46 and its 200 day moving average is $16.60.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.09). Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Research analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were paid a $0.28 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a yield of 7.17%. Organon & Co.’s dividend payout ratio is currently 33.63%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. 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 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, Barclays decreased their target price on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target 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.