EverSource Wealth Advisors LLC Raises Holdings in Organon & Co. (NYSE:OGN)

EverSource Wealth Advisors LLC boosted its holdings in shares of Organon & Co. (NYSE:OGN) by 71.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,408 shares of the company’s stock after buying an additional 2,670 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Organon & Co. were worth $96,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Commerce Bank boosted its stake in Organon & Co. by 5.5% in the third quarter. Commerce Bank now owns 12,168 shares of the company’s stock valued at $233,000 after acquiring an additional 637 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Organon & Co. by 32.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock worth $41,000 after purchasing an additional 672 shares in the last quarter. Beam Wealth Advisors Inc. boosted its position in shares of Organon & Co. by 3.9% in the 4th quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company’s stock worth $282,000 after purchasing an additional 717 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Organon & Co. by 0.5% in the 4th quarter. HighTower Advisors LLC now owns 163,440 shares of the company’s stock worth $2,439,000 after purchasing an additional 855 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Organon & Co. by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 25,523 shares of the company’s stock worth $381,000 after purchasing an additional 1,184 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Stock Up 0.5 %

NYSE:OGN opened at $15.70 on Wednesday. The company has a market cap of $4.05 billion, a PE ratio of 4.71, a P/E/G ratio of 0.90 and a beta of 0.76. Organon & Co. has a twelve month low of $13.87 and a twelve month 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’s 50 day moving average is $15.46 and its two-hundred day moving average is $16.55.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.83 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 business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. Analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 7.14%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s payout ratio is 33.63%.

Analysts Set New Price Targets

OGN has been the subject of a number of recent analyst reports. Barclays lowered 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. Morgan Stanley dropped their target price on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Finally, TD Cowen raised shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.