MCF Advisors LLC Acquires New Shares in Organon & Co. (NYSE:OGN)

MCF Advisors LLC acquired a new stake in shares of Organon & Co. (NYSE:OGN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 843 shares of the company’s stock, valued at approximately $26,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC acquired a new stake in shares of Organon & Co. in the second quarter worth about $26,000. Optimum Investment Advisors acquired a new stake in shares of Organon & Co. in the second quarter worth about $27,000. Center for Financial Planning Inc. acquired a new stake in shares of Organon & Co. in the second quarter worth about $30,000. Markston International LLC acquired a new stake in shares of Organon & Co. in the second quarter worth about $30,000. Finally, Parkside Financial Bank & Trust acquired a new stake in shares of Organon & Co. in the second quarter worth about $30,000.

Shares of OGN opened at $33.42 on Wednesday. Organon & Co. has a 12-month low of $27.25 and a 12-month high of $38.75. The firm’s 50-day moving average price is $31.81.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, August 12th. The company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.23.

The company also recently declared a quarterly dividend, which was paid on Monday, September 13th. Investors of record on Monday, August 23rd were paid a dividend of $0.28 per share. The ex-dividend date was Friday, August 20th. This represents a $1.12 annualized dividend and a yield of 3.35%.

A number of analysts have weighed in on OGN shares. Cowen started coverage on Organon & Co. in a research report on Thursday, June 3rd. They issued a “market perform” rating and a $40.00 price target for the company. Morgan Stanley boosted their price target on Organon & Co. from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, August 16th. Evercore ISI initiated coverage on Organon & Co. in a research report on Thursday, June 10th. They issued an “outperform” rating for the company. Truist initiated coverage on Organon & Co. in a research note on Wednesday, June 2nd. They issued a “buy” rating and a $48.00 price objective on the stock. Finally, JPMorgan Chase & Co. initiated coverage on Organon & Co. in a research note on Tuesday, June 15th. They issued a “neutral” rating and a $38.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $40.00.

In other news, Director Ma. Fatima Francisco purchased 3,000 shares of the stock in a transaction that occurred on Thursday, August 19th. The shares were purchased at an average cost of $33.79 per share, for a total transaction of $101,370.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Organon & Co. Company Profile

Organon & Co, a science-based pharmaceutical company, develops and delivers health solutions through a portfolio of prescription therapies within women's health, biosimilars, and established brands. 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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