Versor Investments LP Sells 5,800 Shares of Organon & Co. (NYSE:OGN)

Versor Investments LP reduced its holdings in shares of Organon & Co. (NYSE:OGN) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,226 shares of the company’s stock after selling 5,800 shares during the quarter. Versor Investments LP’s holdings in Organon & Co. were worth $615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prospera Private Wealth LLC bought a new position in shares of Organon & Co. during the third quarter valued at $25,000. Horizon Bancorp Inc. IN lifted its holdings in shares of 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 purchasing an additional 1,585 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Organon & Co. by 32.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock valued at $41,000 after purchasing an additional 672 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of 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. Finally, WFA Asset Management Corp bought a new position in shares of Organon & Co. during the fourth quarter valued at $68,000. 77.43% of the stock is owned by institutional investors.

Organon & Co. Stock Down 0.9 %

Organon & Co. stock opened at $14.91 on Friday. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The stock has a fifty day moving average of $15.44 and a 200 day moving average of $17.14. The stock has a market cap of $3.84 billion, a PE ratio of 4.48, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. Organon & Co. has a one year low of $13.87 and a one year high of $23.10.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.09). The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. As a group, sell-side analysts predict that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Monday, February 24th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 7.51%. The ex-dividend date of this dividend is Monday, February 24th. Organon & Co.’s payout ratio is 33.63%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley lowered their price target on Organon & Co. from $17.00 to $16.00 and set an “equal weight” 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, 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 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. According to data from MarketBeat, Organon & Co. has an average rating of “Hold” and an average 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.