Mitsubishi UFJ Trust & Banking Corp Increases Stock Position in Organon & Co. $OGN

Mitsubishi UFJ Trust & Banking Corp boosted its position in Organon & Co. (NYSE:OGN) by 9.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,430,593 shares of the company’s stock after acquiring an additional 123,663 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.55% of Organon & Co. worth $15,279,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of OGN. Hanson & Doremus Investment Management purchased a new stake in shares of Organon & Co. during the second quarter worth about $26,000. Hantz Financial Services Inc. raised its position in Organon & Co. by 293.8% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,674 shares of the company’s stock valued at $26,000 after purchasing an additional 1,995 shares during the last quarter. SouthState Corp lifted its holdings in Organon & Co. by 1,857.0% in the 2nd quarter. SouthState Corp now owns 3,914 shares of the company’s stock worth $38,000 after buying an additional 3,714 shares during the period. Allworth Financial LP grew its position in shares of Organon & Co. by 65.9% in the 2nd quarter. Allworth Financial LP now owns 4,501 shares of the company’s stock worth $44,000 after buying an additional 1,788 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Organon & Co. by 22.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,645 shares of the company’s stock worth $55,000 after buying an additional 1,034 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

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

Organon & Co. Stock Down 1.2%

NYSE:OGN opened at $8.99 on Wednesday. The company has a debt-to-equity ratio of 9.69, a current ratio of 1.75 and a quick ratio of 1.20. The firm’s 50-day moving average price is $7.72 and its 200-day moving average price is $8.74. The company has a market capitalization of $2.34 billion, a PE ratio of 4.68, a P/E/G ratio of 1.89 and a beta of 0.58. Organon & Co. has a 1-year low of $6.18 and a 1-year high of $17.23.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Monday, November 10th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. The company had revenue of $1.60 billion during 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 period last year, the company posted $1.38 EPS. On average, equities analysts predict that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

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

Organon & Co. 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.