Man Group plc Has $1.37 Million Stake in Organon & Co. (NYSE:OGN)

Man Group plc trimmed its stake in Organon & Co. (NYSE:OGN) by 30.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,792 shares of the company’s stock after selling 39,645 shares during the period. Man Group plc’s holdings in Organon & Co. were worth $1,370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of OGN. Barclays PLC increased its holdings in Organon & Co. by 238.0% in the third quarter. Barclays PLC now owns 119,483 shares of the company’s stock valued at $2,285,000 after purchasing an additional 84,136 shares during the period. HB Wealth Management LLC boosted its position in Organon & Co. by 64.2% during the fourth quarter. HB Wealth Management LLC now owns 18,114 shares of the company’s stock valued at $270,000 after acquiring an additional 7,081 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Organon & Co. by 32.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock valued at $41,000 after acquiring an additional 672 shares during the last quarter. Sound Income Strategies LLC boosted its position in Organon & Co. by 6.5% during the fourth quarter. Sound Income Strategies LLC now owns 651,106 shares of the company’s stock valued at $9,714,000 after acquiring an additional 39,726 shares during the last quarter. Finally, Impact Partnership Wealth LLC boosted its position in Organon & Co. by 43.7% during the fourth quarter. Impact Partnership Wealth LLC now owns 18,871 shares of the company’s stock valued at $282,000 after acquiring an additional 5,736 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Price Performance

Shares of NYSE OGN opened at $8.69 on Friday. The firm’s 50-day moving average price is $11.55 and its 200-day moving average price is $14.05. Organon & Co. has a 1-year low of $8.01 and a 1-year high of $23.10. The firm has a market capitalization of $2.26 billion, a P/E ratio of 2.61, a P/E/G ratio of 0.90 and a beta of 0.75. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.13. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. Equities research analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.92%. Organon & Co.’s dividend payout ratio is currently 2.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OGN. Morgan Stanley cut 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 research report on Monday, May 5th. Piper Sandler cut their price target on shares of Organon & Co. from $24.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, May 15th. Evercore ISI cut shares of Organon & Co. from an “outperform” rating to an “inline” rating in a research report on Friday, May 2nd. Finally, Barclays cut 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $18.00.

Insider Activity

In related news, CEO Kevin Ali purchased 34,000 shares of the business’s stock in a transaction on Monday, May 5th. The stock was acquired at an average price of $8.80 per share, for a total transaction of $299,200.00. Following the purchase, the chief executive officer now owns 282,731 shares of the company’s stock, valued at approximately $2,488,032.80. This trade represents a 13.67% 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 acquired 3,500 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $8.24 per share, with a total value of $28,840.00. Following the completion of the acquisition, the vice president now directly owns 46,669 shares in the company, valued at approximately $384,552.56. This represents a 8.11% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 102,345 shares of company stock worth $902,430. Company insiders own 1.96% 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.