The Vanguard Group, Inc. recently announced the acquisition of new stake in Organon & Co. (NYSE:OGN). The institutional investor has increased its shareholding in the Healthcare company by 0.08% to 30.53 million shares with purchase of 24860.0 shares. This fresh investment now brings its stake to 11.94% valued currently at $345.55 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.68 million to 13.72 million shares. And BlackRock Fund Advisors has lifted its position by 2.12% or 0.26 million shares – to 12.74 million shares.
With over 3.41 million Organon & Co. (OGN) shares trading Tuesday and a closing price of $14.13 on the day, the dollar volume was approximately $48.16 million. The shares have shown a negative half year performance of -31.47% and its price on 12/26/23 gained nearly 1.58%. Currently, there are 255.61M common shares owned by the public and among those 255.34M shares have been available to trade.
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Insiders at the company have transacted a total of 82 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 41 of these insider trades were purchases, accounting for 225,397 shares. Insider sales of the common stock occurred on 41 occasions, with total insider shares sold totaling 94,715 shares.
The top 3 mutual fund holders in Organon & Co. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 17.1 million shares of the company’s stock, all valued at over $193.6 million. The company bought an additional 8190.0 shares recently to bring their total holdings to about 6.69% of the shares outstanding. Vanguard Total Stock Market ETF bought 9925.0 shares to see its total holdings expand to 8.01 million shares valued at over $90.66 million and representing 3.13% of the shares outstanding. Vanguard Small Cap Index Fund bought 30425.0 shares to bring its total holdings to over 6.62 million shares at a value of $74.96 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.59% of the shares outstanding.
Shares of Organon & Co. (NYSE: OGN) opened at $13.93, up $0.02 from a prior closing price of $13.91. However, the script later moved the day high at 14.24, up 1.58%. The company’s stock has a 5-day price change of 7.70% and -18.09% over the past three months. OGN shares are trading -49.41% year to date (YTD), with the 12-month market performance down to -48.88% lower. It has a 12-month low price of $10.84 and touched a high of $32.43 over the same period. OGN has an average intraday trading volume of 5.48 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 16.97%, 8.79%, and -25.95% respectively.
Institutional ownership of Organon & Co. (NYSE: OGN) shares accounts for 79.12% of the company’s 255.61M shares outstanding. Mutual fund holders own 31.85%, while other institutional holders and individual stakeholders account for 47.68% and 0.11% respectively.
It has a market capitalization of $3.61B and a beta (3y monthly) value of 0.71. The stock’s trailing 12-month PE ratio is 6.18, while the earnings-per-share (ttm) stands at $2.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.20% over the week and 4.13% over the month.
Analysts forecast that Organon & Co. (OGN) will achieve an EPS of $0.81 for the current quarter, $1.16 for the next quarter and $4.25 for 2024. The lowest estimate earnings-per-share for the quarter is $0.53 while analysts give the company a high EPS estimate of $1.07. Comparatively, EPS for the current quarter was $0.81 a year ago. Earnings per share for the fiscal year are expected to decrease by -18.92%, and 3.38% over the next financial year. EPS should grow at an annualized rate of -5.00% over the next five years, compared to -12.77% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Organon & Co. (OGN) as a “Moderate Buy” at a consensus score of 2.44. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 4 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the OGN, a number of firms have released research notes about the stock. Goldman stated their Neutral rating for the stock in a research note on November 03, 2023, with the firm’s price target at $33-$16.
