Raymond James Financial Inc. Makes New $4.19 Million Investment in Organon & Co. (NYSE:OGN)

Raymond James Financial Inc. acquired a new stake in Organon & Co. (NYSE:OGN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 281,110 shares of the company’s stock, valued at approximately $4,194,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Commerce Bank boosted its holdings in shares of Organon & Co. by 5.5% in the 3rd 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. MassMutual Private Wealth & Trust FSB grew its stake in shares of Organon & Co. by 32.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock valued at $41,000 after buying an additional 672 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Organon & Co. by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 25,523 shares of the company’s stock worth $381,000 after acquiring an additional 1,184 shares during the period. Deseret Mutual Benefit Administrators boosted its stake in shares of Organon & Co. by 24.3% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 6,256 shares of the company’s stock valued at $93,000 after purchasing an additional 1,222 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its holdings in Organon & Co. by 12.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 10,910 shares of the company’s stock valued at $163,000 after purchasing an additional 1,248 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley cut their target price on 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. Barclays cut their price target on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, TD Cowen raised shares of Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.80.

Organon & Co. Stock Performance

OGN stock opened at $14.71 on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.21 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 stock’s 50 day simple moving average is $15.39 and its 200 day simple moving average is $16.31. The firm has a market cap of $3.79 billion, a P/E ratio of 4.42, a P/E/G 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). The firm had revenue of $1.59 billion during 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%. As a group, equities research analysts predict that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were paid a $0.28 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.12 annualized dividend and a dividend yield of 7.62%. Organon & Co.’s payout ratio is 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.