Victory Capital Management Inc. Increases Holdings in Organon & Co. (NYSE:OGN)

Victory Capital Management Inc. increased its stake in shares of Organon & Co. (NYSE:OGN – Get Rating) by 31.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 839,286 shares of the company’s stock after acquiring an additional 199,358 shares during the quarter. Victory Capital Management Inc.’s holdings in Organon & Co. were worth $23,791,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Organon & Co. by 1.8% in the third quarter. Vanguard Group Inc. now owns 30,230,471 shares of the company’s stock valued at $707,394,000 after purchasing an additional 536,373 shares during the period. Mawer Investment Management Ltd. raised its position in Organon & Co. by 22.1% in the fourth quarter. Mawer Investment Management Ltd. now owns 13,179,805 shares of the company’s stock valued at $368,112,000 after purchasing an additional 2,381,668 shares during the period. State Street Corp raised its position in Organon & Co. by 27.8% in 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 period. Bank of New York Mellon Corp raised its position in Organon & Co. by 10.1% in the third quarter. Bank of New York Mellon Corp now owns 9,066,304 shares of the company’s stock valued at $212,151,000 after purchasing an additional 834,392 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Organon & Co. by 0.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,575,257 shares of the company’s stock valued at $177,260,000 after purchasing an additional 44,987 shares during the period. Hedge funds and other institutional investors own 75.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James initiated coverage on Organon & Co. in a research note on Wednesday, March 15th. They issued an “outperform” rating and a $33.00 price objective for the company.

Organon & Co. Trading Down 0.2 %

Shares of NYSE OGN opened at $20.43 on Monday. Organon & Co. has a twelve month low of $20.12 and a twelve month high of $39.09. The stock has a fifty day simple moving average of $22.72 and a 200-day simple moving average of $25.72. The stock has a market capitalization of $5.21 billion, a PE ratio of 7.00, a PEG ratio of 0.88 and a beta of 0.77.

Organon & Co. (NYSE:OGN – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.10). Organon & Co. had a net margin of 12.14% and a negative return on equity of 119.00%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities analysts predict that Organon & Co. will post 4.22 earnings per share for the current year.

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Monday, May 15th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, May 12th. This represents a $1.12 annualized dividend and a yield of 5.48%. Organon & Co.’s payout ratio is 38.36%.

Organon & Co. Company 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.