Truist Financial Corp Raises Stock Holdings in Organon & Co. (NYSE:OGN)

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Truist Financial Corp raised its position in shares of Organon & Co. (NYSE:OGNGet Rating) by 44.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,004 shares of the company’s stock after buying an additional 32,755 shares during the quarter. Truist Financial Corp’s holdings in Organon & Co. were worth $3,702,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Cutler Group LP bought a new position in shares of Organon & Co. in the 4th quarter worth about $27,000. Nordea Investment Management AB increased its stake in shares of Organon & Co. by 25.0% during the fourth quarter. Nordea Investment Management AB now owns 824,377 shares of the company’s stock valued at $25,193,000 after purchasing an additional 165,094 shares in the last quarter. Concord Wealth Partners lifted its holdings in shares of Organon & Co. by 2,143.1% during the fourth quarter. Concord Wealth Partners now owns 1,301 shares of the company’s stock valued at $40,000 after purchasing an additional 1,243 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Organon & Co. by 11.0% in the 4th quarter. Russell Investments Group Ltd. now owns 300,346 shares of the company’s stock worth $9,150,000 after purchasing an additional 29,814 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its stake in shares of Organon & Co. by 115.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 14,434 shares of the company’s stock worth $440,000 after buying an additional 7,719 shares during the last quarter. Institutional investors own 70.85% of the company’s stock.

Organon & Co. Stock Up 0.4 %

Shares of OGN opened at $31.97 on Friday. Organon & Co. has a twelve month low of $28.42 and a twelve month high of $39.47. The company has a market capitalization of $8.11 billion and a P/E ratio of 6.27. The firm has a 50 day moving average of $35.17 and a 200 day moving average of $34.43.

Organon & Co. (NYSE:OGNGet Rating) last posted its earnings results on Thursday, May 5th. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.34. Organon & Co. had a negative return on equity of 103.33% and a net margin of 20.42%. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the company earned $1.56 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, sell-side analysts expect that Organon & Co. will post 5.32 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Monday, May 16th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Friday, May 13th. Organon & Co.’s dividend payout ratio (DPR) is 21.96%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OGN. Morgan Stanley reduced their price objective on Organon & Co. from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday, July 8th. The Goldman Sachs Group assumed coverage on Organon & Co. in a report on Wednesday, April 27th. They set a “buy” rating and a $40.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

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.

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