Deprince Race & Zollo Inc. Has $70.56 Million Stock Holdings in Organon & Co. (NYSE:OGN)

Deprince Race & Zollo Inc. boosted its position in Organon & Co. (NYSE:OGN) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,729,258 shares of the company’s stock after purchasing an additional 308,267 shares during the quarter. Organon & Co. comprises 1.4% of Deprince Race & Zollo Inc.’s holdings, making the stock its 7th biggest position. Deprince Race & Zollo Inc. owned approximately 1.84% of Organon & Co. worth $70,561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OGN. Horizon Bancorp Inc. IN lifted its holdings in Organon & Co. by 2,401.5% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after purchasing an additional 1,585 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Organon & Co. in the 4th quarter worth approximately $29,000. Larson Financial Group LLC boosted its holdings in shares of Organon & Co. by 345.4% in the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after acquiring an additional 1,734 shares in the last quarter. Riverview Trust Co raised its holdings in Organon & Co. by 117.7% during the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock worth $36,000 after purchasing an additional 1,292 shares in the last quarter. Finally, GeoWealth Management LLC acquired a new stake in Organon & Co. in the fourth quarter worth approximately $41,000. 77.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Matthew M. Walsh acquired 11,400 shares of Organon & Co. stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average price of $8.82 per share, with a total value of $100,548.00. Following the completion of the transaction, the chief financial officer now owns 144,484 shares in the company, valued at approximately $1,274,348.88. This trade represents a 8.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Daniel Karp bought 3,500 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $8.24 per share, for a total transaction of $28,840.00. Following the completion of the transaction, the vice president now owns 46,669 shares in the company, valued at approximately $384,552.56. The trade was a 8.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 102,345 shares of company stock valued at $902,430. Corporate insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OGN. Evercore ISI cut Organon & Co. from an “outperform” rating to an “inline” rating in a research report on Friday, May 2nd. Barclays dropped their price target on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Morgan Stanley reduced their price objective on shares of Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, TD Cowen raised shares of Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.00.

Organon & Co. Trading Down 4.2 %

NYSE:OGN opened at $8.74 on Thursday. The stock has a fifty day simple moving average of $13.09 and a 200 day simple moving average of $14.78. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 2.63, a price-to-earnings-growth ratio of 0.90 and a beta of 0.75. Organon & Co. has a 1-year low of $8.05 and a 1-year high of $23.10. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.89 by $0.13. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period last year, the company posted $1.22 earnings per share. Sell-side analysts forecast that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.91%. Organon & Co.’s dividend payout ratio is 2.78%.

Organon & Co. 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.