Thrivent Financial for Lutherans Has $2.97 Million Stock Holdings in Organon & Co. (NYSE:OGN)

Thrivent Financial for Lutherans reduced its stake in shares of Organon & Co. (NYSE:OGN) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 199,065 shares of the company’s stock after selling 3,125 shares during the period. Thrivent Financial for Lutherans’ holdings in Organon & Co. were worth $2,970,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of OGN. Horizon Bancorp Inc. IN lifted its position in Organon & Co. by 2,401.5% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after purchasing an additional 1,585 shares during the period. Larson Financial Group LLC lifted its holdings 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 worth $33,000 after acquiring an additional 1,734 shares during the period. Riverview Trust Co boosted its position 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 worth $36,000 after acquiring an additional 1,292 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake 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 valued at $41,000 after acquiring an additional 672 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Organon & Co. by 92.2% during the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock valued at $41,000 after purchasing an additional 1,324 shares in the last quarter. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Trading Down 0.1 %

Shares of OGN stock opened at $14.71 on Thursday. Organon & Co. has a twelve month low of $13.87 and a twelve month high of $23.10. The stock’s fifty day simple moving average is $15.39 and its 200 day simple moving average is $16.31. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The firm has a market capitalization 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 released its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share 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 firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. As a group, sell-side analysts predict that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 7.62%. The ex-dividend date was Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is currently 33.63%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays reduced their target price on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a 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 dropped their target price on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.