Drive Wealth Management LLC Buys New Stake in Organon & Co. (NYSE:OGN)

Drive Wealth Management LLC bought a new stake in Organon & Co. (NYSE:OGN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,955 shares of the company’s stock, valued at approximately $208,000.

Several other large investors have also recently bought and sold shares of OGN. Prospera Private Wealth LLC purchased a new position in Organon & Co. in the third quarter valued at $25,000. Horizon Bancorp Inc. IN grew its holdings in shares of Organon & Co. by 2,401.5% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after purchasing an additional 1,585 shares during the last quarter. William B. Walkup & Associates Inc. purchased a new position in shares of Organon & Co. during the second quarter worth about $31,000. Versant Capital Management Inc grew its holdings in shares of Organon & Co. by 92.2% during the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock worth $41,000 after purchasing an additional 1,324 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Organon & Co. by 32.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock worth $41,000 after purchasing an additional 672 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, TD Cowen raised Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.33.

Organon & Co. Stock Performance

Shares of OGN stock opened at $16.26 on Tuesday. Organon & Co. has a 1 year low of $13.87 and a 1 year high of $23.10. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 3.23, a PEG ratio of 0.87 and a beta of 0.76. The stock’s 50-day moving average is $15.39 and its two-hundred day moving average is $18.03. 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. (NYSE:OGN) last announced its earnings results on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.03). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the company posted $0.78 EPS. Organon & Co.’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts predict that Organon & Co. will post 3.82 earnings per share for the current year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 6.89%. Organon & Co.’s dividend payout ratio (DPR) is 22.22%.

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.