Magnetar Financial LLC Acquires 1,471,731 Shares of Organon & Co. (NYSE:OGN)

Magnetar Financial LLC raised its holdings in Organon & Co. (NYSE:OGN) by 560.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,734,434 shares of the company’s stock after buying an additional 1,471,731 shares during the quarter. Magnetar Financial LLC’s holdings in Organon & Co. were worth $25,878,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in shares of Organon & Co. during the third quarter valued at approximately $25,000. Horizon Bancorp Inc. IN raised its stake 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 valued at $25,000 after buying an additional 1,585 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Organon & Co. by 345.4% in the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock worth $33,000 after purchasing an additional 1,734 shares during the last quarter. Riverview Trust Co raised its stake in shares of Organon & Co. by 117.7% in the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock worth $36,000 after purchasing an additional 1,292 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Organon & Co. by 92.2% in the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock worth $41,000 after purchasing an additional 1,324 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OGN. Morgan Stanley decreased their price target on 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. TD Cowen upgraded Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Finally, Barclays reduced their price objective 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.80.

Organon & Co. Stock Up 0.7 %

Organon & Co. stock opened at $15.81 on Thursday. The stock has a market cap of $4.08 billion, a PE ratio of 4.75, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. Organon & Co. has a one year low of $13.87 and a one year high of $23.10. The stock has a fifty day moving average of $15.46 and a 200 day moving average of $16.54.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The company 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 year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.09%. The ex-dividend date was Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) 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.