Essex Financial Services Inc. Sells 3,355 Shares of Organon & Co. (NYSE:OGN)

Essex Financial Services Inc. reduced its position in shares of Organon & Co. (NYSE:OGN) by 5.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,471 shares of the company’s stock after selling 3,355 shares during the quarter. Essex Financial Services Inc.’s holdings in Organon & Co. were worth $813,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of OGN. Prospera Private Wealth LLC purchased a new position in shares of Organon & Co. in the third quarter worth $25,000. Horizon Bancorp Inc. IN increased its holdings in Organon & Co. by 2,401.5% in the 4th quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after buying an additional 1,585 shares in the last quarter. Versant Capital Management Inc increased its holdings in Organon & Co. by 92.2% in the 4th quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock worth $41,000 after buying an additional 1,324 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in 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 buying an additional 672 shares during the last quarter. Finally, Abich Financial Wealth Management LLC lifted its stake in Organon & Co. by 5,646.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after acquiring an additional 2,315 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, TD Cowen upgraded 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, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $21.33.

Organon & Co. Stock Performance

OGN stock opened at $14.70 on Thursday. 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. has a 1 year low of $13.87 and a 1 year high of $23.10. The company has a market cap of $3.79 billion, a P/E ratio of 2.92, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. The stock’s fifty day moving average price is $15.33 and its 200-day moving average price is $17.54.

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.