Proficio Capital Partners LLC Buys New Shares in Organon & Co. (NYSE:OGN)

Proficio Capital Partners LLC purchased a new stake in shares of Organon & Co. (NYSE:OGN) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 26,393 shares of the company’s stock, valued at approximately $394,000.

A number of other large investors also recently modified their holdings of OGN. Natixis Advisors LLC raised its holdings in shares of Organon & Co. by 7.9% during the 3rd quarter. Natixis Advisors LLC now owns 48,215 shares of the company’s stock valued at $922,000 after buying an additional 3,520 shares during the period. Commerce Bank boosted its holdings in Organon & Co. by 5.5% in the third quarter. Commerce Bank now owns 12,168 shares of the company’s stock valued at $233,000 after purchasing an additional 637 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Organon & Co. by 35.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company’s stock valued at $63,570,000 after purchasing an additional 875,128 shares in the last quarter. Cerity Partners LLC raised its holdings in Organon & Co. by 94.0% in the third quarter. Cerity Partners LLC now owns 667,340 shares of the company’s stock valued at $12,766,000 after acquiring an additional 323,308 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Organon & Co. in the 3rd quarter valued at about $649,000. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Down 3.8 %

OGN stock opened at $14.74 on Wednesday. The company has a 50 day moving average of $15.41 and a two-hundred day moving average of $16.33. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a 12-month low of $13.87 and a 12-month high of $23.10. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 4.43, a PEG ratio of 0.90 and a beta of 0.76.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results 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 return on equity of 431.62% and a net margin of 13.49%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. On average, equities analysts anticipate 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 given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.60%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s dividend payout ratio is 33.63%.

Analyst Ratings Changes

OGN has been the subject of several research reports. Barclays decreased their target price on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. TD Cowen upgraded Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Finally, Morgan Stanley cut their price objective on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.80.

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.