Sound Shore Management Inc. CT Sells 172,426 Shares of Organon & Co. (NYSE:OGN)

Sound Shore Management Inc. CT trimmed its holdings in shares of Organon & Co. (NYSE:OGN) by 3.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,968,658 shares of the company’s stock after selling 172,426 shares during the quarter. Organon & Co. accounts for about 2.4% of Sound Shore Management Inc. CT’s holdings, making the stock its 20th biggest position. Sound Shore Management Inc. CT’s holdings in Organon & Co. were worth $74,132,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

OGN has been the topic of a number of analyst reports. TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Morgan Stanley reduced their price objective on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Finally, Barclays reduced their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. One investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.80.

Organon & Co. Trading Down 1.7 %

OGN opened at $15.33 on Monday. The company’s 50 day moving average is $15.44 and its 200-day moving average is $16.41. Organon & Co. has a 1-year low of $13.87 and a 1-year high of $23.10. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The company has a market cap of $3.95 billion, a P/E ratio of 4.60, a PEG ratio of 0.90 and a beta of 0.76.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.57 billion. Equities research analysts predict that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a $0.28 dividend. 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 (DPR) 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.