Elo Mutual Pension Insurance Co Takes Position in Organon & Co. (NYSE:OGN)

Elo Mutual Pension Insurance Co purchased a new position in Organon & Co. (NYSE:OGN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 21,860 shares of the company’s stock, valued at approximately $326,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Quantbot Technologies LP purchased a new position in shares of Organon & Co. in the 3rd quarter worth about $113,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Organon & Co. by 8.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,506 shares of the company’s stock valued at $1,062,000 after buying an additional 4,298 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Organon & Co. by 0.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 836,389 shares of the company’s stock valued at $16,000,000 after buying an additional 4,029 shares in the last quarter. Verition Fund Management LLC purchased a new stake in Organon & Co. during the 3rd quarter worth $195,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of Organon & Co. in the third quarter worth about $3,935,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Price Performance

Shares of OGN stock opened at $14.52 on Monday. The firm has a fifty day moving average of $15.33 and a two-hundred day moving average of $16.21. The firm has a market cap of $3.74 billion, a P/E ratio of 4.36, a P/E/G ratio of 0.90 and a beta of 0.76. Organon & Co. has a 1-year low of $13.87 and a 1-year high of $23.10. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.09). The company had revenue of $1.59 billion for 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%. As a group, research analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders 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 annualized dividend and a dividend yield of 7.72%. Organon & Co.’s payout ratio is 33.63%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OGN. Morgan Stanley reduced 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. Barclays cut their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, TD Cowen upgraded Organon & Co. to a “hold” rating in a research note 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 stock. Based on data from MarketBeat.com, Organon & Co. has a consensus rating of “Hold” and an average price target of $20.80.

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.