Concord Wealth Partners Invests $36,000 in Organon & Co. (NYSE:OGN)

Posted by on Apr 15th, 2023

Concord Wealth Partners bought a new position in shares of Organon & Co. (NYSE:OGN – Get Rating) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,283 shares of the company’s stock, valued at approximately $36,000.

Several other institutional investors also recently modified their holdings of OGN. Fairfield Bush & CO. grew its position in shares of Organon & Co. by 3.0% during the 1st quarter. Fairfield Bush & CO. now owns 16,302 shares of the company’s stock worth $569,000 after buying an additional 481 shares during the period. Natixis Advisors L.P. grew its position in shares of Organon & Co. by 52.5% in the 1st quarter. Natixis Advisors L.P. now owns 50,428 shares of the company’s stock valued at $1,761,000 after purchasing an additional 17,370 shares during the period. MetLife Investment Management LLC grew its position in shares of Organon & Co. by 23.2% in the 1st quarter. MetLife Investment Management LLC now owns 68,987 shares of the company’s stock valued at $2,410,000 after purchasing an additional 12,969 shares during the period. Panagora Asset Management Inc. grew its position in shares of Organon & Co. by 95.6% in the 1st quarter. Panagora Asset Management Inc. now owns 39,595 shares of the company’s stock valued at $1,383,000 after purchasing an additional 19,352 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Organon & Co. by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,926 shares of the company’s stock valued at $1,185,000 after purchasing an additional 2,101 shares during the period. 75.74% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Stock Down 0.8 %

NYSE:OGN opened at $23.80 on Friday. Organon & Co. has a twelve month low of $20.96 and a twelve month high of $39.09. The business has a 50 day moving average price of $24.56 and a two-hundred day moving average price of $26.02. The company has a market cap of $6.05 billion, a P/E ratio of 6.63, a price-to-earnings-growth ratio of 0.98 and a beta of 0.76.

Organon & Co. (NYSE:OGN – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Organon & Co. had a negative return on equity of 118.21% and a net margin of 14.85%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $1.37 EPS. The company’s revenue was down 7.4% compared to the same quarter last year. As a group, analysts anticipate that Organon & Co. will post 4.31 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 16th. Shareholders of record on Monday, February 27th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend was Friday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is currently 31.20%.

Analyst Ratings Changes

Separately, Raymond James started coverage on Organon & Co. in a research report on Wednesday, March 15th. They issued an “outperform” rating and a $33.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.20.

Organon & Co. Company Profile

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Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.

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Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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