Abacus Wealth Partners LLC Takes Position in Organon & Co. $OGN

Abacus Wealth Partners LLC purchased a new stake in shares of Organon & Co. (NYSE:OGN) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 40,252 shares of the company’s stock, valued at approximately $289,000.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Organon & Co. by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 36,916,382 shares of the company’s stock valued at $264,690,000 after purchasing an additional 987,979 shares during the period. State Street Corp boosted its holdings in shares of Organon & Co. by 6.0% during the second quarter. State Street Corp now owns 9,520,594 shares of the company’s stock worth $92,159,000 after purchasing an additional 540,478 shares during the period. UBS Group AG grew its position in Organon & Co. by 55.2% during the fourth quarter. UBS Group AG now owns 4,295,002 shares of the company’s stock valued at $30,795,000 after purchasing an additional 1,527,492 shares in the last quarter. AQR Capital Management LLC increased its stake in Organon & Co. by 28.3% in the 3rd quarter. AQR Capital Management LLC now owns 4,176,144 shares of the company’s stock valued at $43,641,000 after buying an additional 921,260 shares during the period. Finally, Gotham Asset Management LLC increased its stake in Organon & Co. by 37.2% in the 3rd quarter. Gotham Asset Management LLC now owns 3,713,204 shares of the company’s stock valued at $39,657,000 after buying an additional 1,007,691 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on OGN shares. Zacks Research upgraded shares of Organon & Co. from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Piper Sandler upgraded Organon & Co. from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $5.00 to $14.00 in a report on Tuesday, April 28th. BNP Paribas Exane reissued a “neutral” rating and set a $14.00 price objective (up from $12.00) on shares of Organon & Co. in a research report on Wednesday, April 29th. Weiss Ratings upgraded Organon & Co. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. Finally, Barclays upped their target price on Organon & Co. from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 24th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $11.40.

Organon & Co. Stock Up 0.1%

Shares of Organon & Co. stock opened at $13.44 on Wednesday. Organon & Co. has a 12-month low of $5.69 and a 12-month high of $13.47. The company has a quick ratio of 1.42, a current ratio of 1.97 and a debt-to-equity ratio of 9.47. The stock has a 50 day moving average price of $9.02 and a two-hundred day moving average price of $8.11. The stock has a market capitalization of $3.53 billion, a P/E ratio of 14.45, a PEG ratio of 1.24 and a beta of 1.57.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.12). Organon & Co. had a net margin of 3.99% and a return on equity of 99.95%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the company posted $1.02 earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. Equities analysts expect that Organon & Co. will post 3.23 earnings per share for the current year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Monday, May 11th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, May 11th. Organon & Co.’s payout ratio is currently 8.60%.

Insider Transactions at Organon & Co.

In other news, SVP Lynette Holzbaur purchased 26,448 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was purchased at an average price of $13.35 per share, with a total value of $353,080.80. Following the acquisition, the senior vice president directly owned 52,851 shares in the company, valued at approximately $705,560.85. The trade was a 100.17% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.62% of the stock is owned by corporate insiders.

Organon & Co. Profile

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.