Summit Securities Group LLC Has $419,000 Position in Organon & Co. (NYSE:OGN)

Summit Securities Group LLC raised its position in Organon & Co. (NYSE:OGN) by 35.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 28,100 shares of the company’s stock after purchasing an additional 7,300 shares during the period. Summit Securities Group LLC’s holdings in Organon & Co. were worth $419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Organon & Co. by 35.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company’s stock worth $63,570,000 after acquiring an additional 875,128 shares during the period. D.A. Davidson & CO. increased its holdings in shares of Organon & Co. by 1.3% during the third quarter. D.A. Davidson & CO. now owns 122,147 shares of the company’s stock worth $2,337,000 after purchasing an additional 1,529 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Organon & Co. in the third quarter valued at approximately $113,000. Bridgewater Associates LP bought a new stake in shares of Organon & Co. in the third quarter valued at approximately $3,887,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Organon & Co. by 8.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,506 shares of the company’s stock worth $1,062,000 after buying an additional 4,298 shares in the last quarter. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Down 0.3 %

Shares of OGN opened at $14.52 on Friday. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. Organon & Co. has a 52 week low of $13.87 and a 52 week high of $23.10. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 4.36, a PEG ratio of 0.90 and a beta of 0.76. The stock has a fifty day moving average of $15.33 and a 200-day moving average of $16.24.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.09). Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. As a group, sell-side analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 7.72%. The ex-dividend date was Monday, February 24th. Organon & Co.’s payout ratio is currently 33.63%.

Analyst Ratings Changes

Several research firms have recently issued reports on OGN. Morgan Stanley reduced their target price on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Barclays dropped their target price on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Finally, TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.80.

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.