Bessemer Group Inc. Lowers Stock Holdings in Organon & Co. (NYSE:OGN)

Bessemer Group Inc. lessened its holdings in shares of Organon & Co. (NYSE:OGN) by 47.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,831 shares of the company’s stock after selling 4,351 shares during the quarter. Bessemer Group Inc.’s holdings in Organon & Co. were worth $72,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. increased its stake in Organon & Co. by 94,482.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company’s stock valued at $166,391,000 after purchasing an additional 11,140,388 shares during the last quarter. Norges Bank purchased a new stake in Organon & Co. in the 4th quarter valued at about $25,258,000. Magnetar Financial LLC increased its stake in shares of Organon & Co. by 560.2% during the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company’s stock valued at $25,878,000 after acquiring an additional 1,471,731 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Organon & Co. by 44.6% during the 4th quarter. Invesco Ltd. now owns 2,034,780 shares of the company’s stock worth $30,359,000 after acquiring an additional 627,944 shares during the period. Finally, Brandywine Global Investment Management LLC boosted its position in shares of Organon & Co. by 34.6% in the fourth quarter. Brandywine Global Investment Management LLC now owns 2,029,923 shares of the company’s stock worth $30,286,000 after acquiring an additional 521,847 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TD Cowen raised shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Barclays dropped their price objective on 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 cut their target price on Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.60.

Organon & Co. Stock Performance

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. The company has a market cap of $2.87 billion, a PE ratio of 3.34, a P/E/G ratio of 0.90 and a beta of 0.73. The company’s fifty day simple moving average is $14.32 and its 200-day simple moving average is $15.47. Organon & Co. has a 52 week low of $10.75 and a 52 week high of $23.10.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, February 13th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 10.08%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is 33.63%.

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.