Connor Clark & Lunn Investment Management Ltd. Acquires New Holdings in Organon & Co. (NYSE:OGN)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Organon & Co. (NYSE:OGN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 60,217 shares of the company’s stock, valued at approximately $898,000.

Several other institutional investors also recently bought and sold shares of the business. Commerce Bank grew its holdings in Organon & Co. by 5.5% in the third quarter. Commerce Bank now owns 12,168 shares of the company’s stock worth $233,000 after purchasing an additional 637 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Organon & Co. by 32.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock worth $41,000 after purchasing an additional 672 shares during the last quarter. Beam Wealth Advisors Inc. grew its holdings in Organon & Co. by 3.9% in the fourth quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company’s stock worth $282,000 after purchasing an additional 717 shares during the last quarter. HighTower Advisors LLC grew its holdings in Organon & Co. by 0.5% in the fourth quarter. HighTower Advisors LLC now owns 163,440 shares of the company’s stock worth $2,439,000 after purchasing an additional 855 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Organon & Co. by 4.9% in the fourth quarter. CIBC Asset Management Inc now owns 25,523 shares of the company’s stock worth $381,000 after purchasing an additional 1,184 shares during the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OGN. TD Cowen raised shares of Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. Barclays lowered their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, Morgan Stanley lowered their price objective on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” 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 issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.80.

Organon & Co. Trading Down 1.7 %

NYSE OGN opened at $15.33 on Friday. The company has a market capitalization of $3.95 billion, a PE ratio of 4.60, a P/E/G ratio of 0.90 and a beta of 0.76. The company has a fifty day moving average of $15.44 and a 200 day moving average of $16.49. Organon & Co. has a 1 year low of $13.87 and a 1 year high of $23.10. 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. (NYSE:OGN) last posted its earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.09). The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. Research analysts forecast that Organon & Co. will post 3.68 earnings per share for the current 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 given a dividend of $0.28 per share. 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 7.31%. Organon & Co.’s dividend payout ratio is presently 33.63%.

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.