Nordea Investment Management AB Has $31.71 Million Position in Organon & Co. $OGN

Nordea Investment Management AB lessened its holdings in shares of Organon & Co. (NYSE:OGN) by 37.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,086,456 shares of the company’s stock after selling 1,817,620 shares during the period. Nordea Investment Management AB owned approximately 1.19% of Organon & Co. worth $31,713,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Organon & Co. in the 2nd quarter worth approximately $19,778,000. AQR Capital Management LLC grew its stake in shares of Organon & Co. by 136.1% in the second quarter. AQR Capital Management LLC now owns 3,254,884 shares of the company’s stock worth $31,507,000 after acquiring an additional 1,876,264 shares during the last quarter. Private Management Group Inc. grew its stake in shares of Organon & Co. by 46.4% in the second quarter. Private Management Group Inc. now owns 3,135,960 shares of the company’s stock worth $30,356,000 after acquiring an additional 993,950 shares during the last quarter. Brandywine Global Investment Management LLC increased its position in Organon & Co. by 58.7% during the second quarter. Brandywine Global Investment Management LLC now owns 2,262,626 shares of the company’s stock worth $21,902,000 after acquiring an additional 837,201 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Organon & Co. by 126.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,435,198 shares of the company’s stock valued at $21,370,000 after purchasing an additional 801,307 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 11th. Wall Street Zen upgraded shares of Organon & Co. from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Organon & Co. in a research report on Wednesday, October 8th. Piper Sandler lowered Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research note on Monday, October 27th. Finally, JPMorgan Chase & Co. cut their price target on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $8.38.

Organon & Co. Price Performance

NYSE:OGN opened at $8.60 on Thursday. The company has a debt-to-equity ratio of 9.69, a quick ratio of 1.20 and a current ratio of 1.75. The company has a 50-day moving average of $7.40 and a 200-day moving average of $8.79. Organon & Co. has a 52 week low of $6.18 and a 52 week high of $17.23. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 4.48, a PEG ratio of 1.75 and a beta of 0.58.

Organon & Co. (NYSE:OGN) last posted its earnings results on Monday, November 10th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a net margin of 7.95% and a return on equity of 143.47%. During the same quarter in the previous year, the firm posted $1.38 earnings per share. As a group, equities research analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 20th were paid a $0.02 dividend. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.08 annualized dividend and a yield of 0.9%. Organon & Co.’s payout ratio is currently 4.17%.

Organon & Co. Company Profile

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.