KLP Kapitalforvaltning AS Has $744,000 Stock Position in Organon & Co. (NYSE:OGN)

KLP Kapitalforvaltning AS reduced its position in Organon & Co. (NYSE:OGN) by 8.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 50,000 shares of the company’s stock after selling 4,400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Organon & Co. were worth $744,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of OGN. American Century Companies Inc. lifted its stake in Organon & Co. by 4.3% in the 4th quarter. American Century Companies Inc. now owns 42,948 shares of the company’s stock valued at $641,000 after purchasing an additional 1,777 shares during the last quarter. LPL Financial LLC lifted its stake in Organon & Co. by 160.7% in the 4th quarter. LPL Financial LLC now owns 457,687 shares of the company’s stock valued at $6,829,000 after purchasing an additional 282,150 shares during the last quarter. Vanguard Group Inc. lifted its stake in Organon & Co. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,401,709 shares of the company’s stock valued at $453,593,000 after purchasing an additional 218,165 shares during the last quarter. Norges Bank acquired a new stake in Organon & Co. in the 4th quarter valued at about $25,258,000. Finally, New Age Alpha Advisors LLC bought a new position in Organon & Co. in the 4th quarter valued at about $754,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Morgan Stanley lowered their price target on shares of Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, May 5th. Evercore ISI cut shares of Organon & Co. from an “outperform” rating to an “inline” rating in a report on Friday, May 2nd. Piper Sandler lowered their price target on shares of Organon & Co. from $24.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, May 15th. Finally, BNP Paribas raised shares of Organon & Co. to a “strong-buy” rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Organon & Co. has an average rating of “Moderate Buy” and an average price target of $18.00.

Organon & Co. Stock Up 1.7%

Shares of OGN opened at $10.14 on Wednesday. Organon & Co. has a 12 month low of $8.01 and a 12 month high of $23.10. The firm’s 50 day moving average is $9.70 and its 200-day moving average is $12.23. The stock has a market capitalization of $2.64 billion, a PE ratio of 3.52, a P/E/G ratio of 1.04 and a beta of 0.60. The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 16.49.

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. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the firm earned $1.22 earnings per share. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were issued a dividend of $0.02 per share. The ex-dividend date was Monday, May 12th. This represents a $0.08 annualized dividend and a dividend yield of 0.79%. Organon & Co.’s dividend payout ratio is presently 2.78%.

Insider Buying and Selling at Organon & Co.

In other Organon & Co. news, CEO Kevin Ali bought 34,000 shares of the stock in a transaction dated Monday, May 5th. The shares were bought at an average cost of $8.80 per share, with a total value of $299,200.00. Following the completion of the acquisition, the chief executive officer owned 282,731 shares of the company’s stock, valued at $2,488,032.80. This trade represents a 13.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kirke Weaver bought 8,045 shares of the stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average cost of $9.21 per share, for a total transaction of $74,094.45. Following the completion of the acquisition, the insider directly owned 52,489 shares of the company’s stock, valued at approximately $483,423.69. This trade represents a 18.10% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 102,345 shares of company stock valued at $902,430 over the last ninety days. Company insiders own 1.40% of the company’s stock.

About Organon & Co.

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.