South State Corp purchased a new stake in Organon & Co. (NYSE:OGN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,534 shares of the company’s stock, valued at approximately $77,000.
Several other large investors have also added to or reduced their stakes in OGN. Gradient Investments LLC purchased a new stake in shares of Organon & Co. in the 2nd quarter valued at about $115,000. State of Alaska Department of Revenue purchased a new stake in shares of Organon & Co. in the 2nd quarter valued at about $1,189,000. Patten & Patten Inc. TN purchased a new stake in shares of Organon & Co. in the 2nd quarter valued at about $320,000. New Mexico Educational Retirement Board purchased a new stake in shares of Organon & Co. in the 2nd quarter valued at about $510,000. Finally, Gofen & Glossberg LLC IL purchased a new stake in shares of Organon & Co. in the 2nd quarter valued at about $690,000.
OGN opened at $33.42 on Wednesday. The stock’s 50 day moving average is $31.81. Organon & Co. has a 1 year low of $27.25 and a 1 year high of $38.75.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 13th. Stockholders of record on Monday, August 23rd were given a $0.28 dividend. The ex-dividend date was Friday, August 20th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.35%.
In other Organon & Co. news, Director Ma. Fatima Francisco acquired 3,000 shares of the business’s stock in a transaction dated Thursday, August 19th. The shares were purchased at an average cost of $33.79 per share, for a total transaction of $101,370.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
OGN has been the topic of a number of research reports. Citigroup raised their price objective on Organon & Co. from $35.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, August 18th. Zacks Investment Research raised Organon & Co. from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Wednesday, August 18th. The Goldman Sachs Group initiated coverage on Organon & Co. in a report on Thursday, June 3rd. They set a “neutral” rating and a $35.00 price objective on the stock. Morgan Stanley raised their price objective on Organon & Co. from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, August 16th. Finally, JPMorgan Chase & Co. initiated coverage on Organon & Co. in a research report on Tuesday, June 15th. They set a “neutral” rating and a $38.00 price target on the stock. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Organon & Co. currently has an average rating of “Buy” and a consensus target price of $40.00.
Organon & Co. Profile
Organon & Co, a science-based pharmaceutical company, develops and delivers health solutions through a portfolio of prescription therapies within women's health, biosimilars, and established brands. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.
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