Hussman Strategic Advisors Inc. Reduces Stake in Organon & Co. (NYSE:OGN)

Hussman Strategic Advisors Inc. lowered its stake in Organon & Co. (NYSE:OGN) by 44.4% in the 1st quarter, HoldingsChannel reports. The fund owned 105,000 shares of the company’s stock after selling 84,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Organon & Co. were worth $1,563,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in Organon & Co. in the fourth quarter worth about $29,000. GeoWealth Management LLC purchased a new position in Organon & Co. in the fourth quarter worth about $41,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Organon & Co. during the first quarter valued at approximately $60,000. GAMMA Investing LLC boosted its position in shares of Organon & Co. by 186.9% during the first quarter. GAMMA Investing LLC now owns 4,611 shares of the company’s stock valued at $69,000 after buying an additional 3,004 shares during the period. Finally, Cary Street Partners Financial LLC purchased a new position in shares of Organon & Co. during the fourth quarter valued at approximately $111,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Insider Activity

In related news, insider Kirke Weaver purchased 8,045 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were acquired at an average price of $9.21 per share, for a total transaction of $74,094.45. Following the purchase, the insider owned 52,489 shares of the company’s stock, valued at $483,423.69. This trade represents a 18.10% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew M. Walsh bought 11,400 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average cost of $8.82 per share, for a total transaction of $100,548.00. Following the completion of the transaction, the chief financial officer owned 144,484 shares in the company, valued at $1,274,348.88. This trade represents a 8.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 102,345 shares of company stock valued at $902,430 over the last three months. Company insiders own 1.96% of the company’s stock.

Organon & Co. Stock Down 1.0%

NYSE:OGN traded down $0.10 during trading hours on Friday, reaching $9.55. The company’s stock had a trading volume of 287,355 shares, compared to its average volume of 4,451,328. The company has a market capitalization of $2.48 billion, a P/E ratio of 3.31, a price-to-earnings-growth ratio of 1.00 and a beta of 0.60. Organon & Co. has a 12 month low of $8.01 and a 12 month high of $23.10. The company has a debt-to-equity ratio of 16.49, a quick ratio of 1.15 and a current ratio of 1.67. The stock has a 50 day moving average price of $9.51 and a two-hundred day moving average price of $12.57.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.13. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.53 billion. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. Organon & Co.’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 earnings per share. Equities analysts predict that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.84%. The ex-dividend date was Monday, May 12th. Organon & Co.’s dividend payout ratio is currently 2.78%.

Wall Street Analyst Weigh In

OGN has been the subject of several recent analyst reports. Piper Sandler dropped their target price on Organon & Co. from $24.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, May 15th. BNP Paribas raised shares of Organon & Co. to a “strong-buy” rating in a research note on Thursday, May 22nd. Evercore ISI downgraded shares of Organon & Co. from an “outperform” rating to an “inline” rating in a research note on Friday, May 2nd. Finally, Morgan Stanley decreased their price target on shares of Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating for the company in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

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.