Organon & Co. (NYSE:OGN) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in shares of Organon & Co. (NYSE:OGNGet Rating) by 23.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,271,538 shares of the company’s stock after purchasing an additional 434,292 shares during the period. JPMorgan Chase & Co.’s holdings in Organon & Co. were worth $76,666,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in OGN. Mawer Investment Management Ltd. acquired a new stake in Organon & Co. in the first quarter valued at $289,752,000. Lord Abbett & CO. LLC increased its stake in Organon & Co. by 80.9% during the first quarter. Lord Abbett & CO. LLC now owns 8,094,890 shares of the company’s stock valued at $282,755,000 after purchasing an additional 3,619,655 shares during the last quarter. State Street Corp increased its stake in Organon & Co. by 27.8% during the first quarter. State Street Corp now owns 11,958,385 shares of the company’s stock valued at $417,706,000 after purchasing an additional 2,599,728 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Organon & Co. by 12.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 6,480,435 shares of the company’s stock valued at $226,361,000 after purchasing an additional 710,217 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Organon & Co. by 298.5% during the first quarter. Renaissance Technologies LLC now owns 749,185 shares of the company’s stock valued at $26,169,000 after purchasing an additional 561,200 shares during the last quarter. 76.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Bank of America lowered shares of Organon & Co. from a “neutral” rating to an “underperform” rating and set a $25.00 target price for the company. in a research note on Friday, October 14th. Morgan Stanley lowered their target price on shares of Organon & Co. from $27.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, November 4th. Finally, Piper Sandler upgraded shares of Organon & Co. from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $37.00 to $34.00 in a research report on Tuesday, September 6th.

Organon & Co. Stock Performance

Organon & Co. stock opened at $24.81 on Thursday. The company has a 50-day simple moving average of $25.02 and a 200-day simple moving average of $30.28. The firm has a market capitalization of $6.31 billion, a P/E ratio of 6.27 and a beta of 0.87. Organon & Co. has a one year low of $22.88 and a one year high of $39.47.

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, November 14th will be given a $0.28 dividend. The ex-dividend date is Thursday, November 10th. This represents a $1.12 dividend on an annualized basis and a yield of 4.51%. Organon & Co.’s dividend payout ratio is presently 28.28%.

Organon & Co. 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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