First Trust Advisors LP Has $19.33 Million Stock Position in Organon & Co. $OGN

First Trust Advisors LP increased its position in Organon & Co. (NYSE:OGN) by 78.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,227,320 shares of the company’s stock after purchasing an additional 1,415,239 shares during the quarter. First Trust Advisors LP’s holdings in Organon & Co. were worth $19,332,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. State of Alaska Department of Revenue increased its holdings in Organon & Co. by 0.6% in the fourth quarter. State of Alaska Department of Revenue now owns 278,379 shares of the company’s stock valued at $1,995,000 after purchasing an additional 1,570 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Organon & Co. by 2.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 58,648 shares of the company’s stock worth $626,000 after buying an additional 1,594 shares during the period. Rafferty Asset Management LLC grew its position in shares of Organon & Co. by 8.5% during the 2nd quarter. Rafferty Asset Management LLC now owns 23,578 shares of the company’s stock worth $228,000 after buying an additional 1,847 shares during the period. Bank of Nova Scotia grew its position in shares of Organon & Co. by 4.6% during the 3rd quarter. Bank of Nova Scotia now owns 44,512 shares of the company’s stock worth $475,000 after buying an additional 1,947 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Organon & Co. by 87.8% in the 4th quarter. Farther Finance Advisors LLC now owns 4,349 shares of the company’s stock valued at $31,000 after acquiring an additional 2,033 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analysts Set New Price Targets

OGN has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Organon & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. BNP Paribas Exane reaffirmed a “neutral” rating and issued a $14.00 target price (up from $12.00) on shares of Organon & Co. in a research note on Wednesday, April 29th. Piper Sandler upgraded shares of Organon & Co. from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $5.00 to $14.00 in a report on Tuesday, April 28th. Finally, Zacks Research raised shares of Organon & Co. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Organon & Co. currently has a consensus rating of “Reduce” and an average target price of $11.40.

Insider Activity

In other Organon & Co. news, SVP Lynette Holzbaur bought 26,448 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was acquired at an average cost of $13.35 per share, with a total value of $353,080.80. Following the purchase, the senior vice president owned 52,851 shares in the company, valued at $705,560.85. This trade represents a 100.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.62% of the company’s stock.

Organon & Co. Stock Up 0.2%

Shares of Organon & Co. stock opened at $13.54 on Thursday. Organon & Co. has a 1 year low of $5.69 and a 1 year high of $13.60. The business has a 50-day moving average of $13.47 and a two-hundred day moving average of $10.34. The company has a market capitalization of $3.56 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.25 and a beta of 1.54. The company has a debt-to-equity ratio of 9.47, a current ratio of 1.97 and a quick ratio of 1.42.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.12). Organon & Co. had a net margin of 3.99% and a return on equity of 99.95%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the firm earned $1.02 EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, equities analysts predict that Organon & Co. will post 3.23 EPS for the current year.

About Organon & Co.

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.