Sterling Capital Management LLC Sells 44,716 Shares of Organon & Co. (NYSE:OGN)

Sterling Capital Management LLC trimmed its stake in shares of Organon & Co. (NYSE:OGN) by 59.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,486 shares of the company’s stock after selling 44,716 shares during the period. Sterling Capital Management LLC’s holdings in Organon & Co. were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horizon Bancorp Inc. IN grew its position in Organon & Co. by 2,401.5% in the 4th 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. Millstone Evans Group LLC bought a new stake in shares of Organon & Co. in the fourth quarter worth $29,000. Larson Financial Group LLC increased its position in Organon & Co. by 345.4% during the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after acquiring an additional 1,734 shares during the last quarter. Riverview Trust Co lifted its holdings in Organon & Co. by 117.7% in the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock valued at $36,000 after acquiring an additional 1,292 shares during the period. Finally, Versant Capital Management Inc boosted its position in 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. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Trading Up 2.7 %

Shares of OGN stock opened at $11.11 on Friday. 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 $10.75 and a 12-month high of $23.10. The stock’s 50-day moving average price is $14.25 and its 200-day moving average price is $15.41. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 3.34, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73.

Organon & Co. (NYSE:OGN) last posted its 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). The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. Equities research analysts predict that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were given 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 10.08%. Organon & Co.’s dividend payout ratio is presently 33.63%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on OGN shares. TD Cowen raised shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Barclays reduced their target price on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Morgan Stanley dropped their price target on shares of Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.60.

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.