FLC Capital Advisors purchased a new stake in Organon & Co. (NYSE:OGN) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 6,837 shares of the company’s stock, valued at approximately $207,000.
Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Organon & Co. in the 2nd quarter valued at about $499,395,000. Bank of New York Mellon Corp acquired a new stake in Organon & Co. in the 2nd quarter valued at about $128,305,000. Lord Abbett & CO. LLC acquired a new stake in Organon & Co. in the 2nd quarter valued at about $91,134,000. Thompson Siegel & Walmsley LLC acquired a new stake in Organon & Co. in the 2nd quarter valued at about $79,714,000. Finally, Sound Shore Management Inc. CT acquired a new stake in Organon & Co. in the 2nd quarter valued at about $74,206,000.
In related news, Director Ma. Fatima Francisco purchased 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 19th. The stock was acquired at an average cost of $33.79 per share, for a total transaction of $101,370.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, August 12th. The company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.23.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 13th. Stockholders of record on Monday, August 23rd were paid a $0.28 dividend. The ex-dividend date was Friday, August 20th. This represents a $1.12 annualized dividend and a dividend yield of 3.32%.
A number of brokerages have recently issued reports on OGN. Zacks Investment Research downgraded shares of Organon & Co. from a “buy” rating to a “hold” rating in a report on Tuesday. Morgan Stanley lifted their target price on shares of Organon & Co. from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, August 16th. JPMorgan Chase & Co. started coverage on shares of Organon & Co. in a research report on Tuesday, June 15th. They issued a “neutral” rating and a $38.00 price target for the company. The Goldman Sachs Group initiated coverage on shares of Organon & Co. in a research report on Thursday, June 3rd. They issued a “neutral” rating and a $35.00 price target for the company. Finally, Citigroup lifted their price objective on shares of Organon & Co. from $35.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, August 18th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Organon & Co. presently has a consensus rating of “Hold” and an average price target of $40.00.
Organon & Co. Company Profile
Organon & Co, a science-based pharmaceutical company, develops and delivers health solutions through a portfolio of prescription therapies within women's health, biosimilars, and established brands. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.
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