CIBC Asset Management Inc Increases Stake in Organon & Co. (NYSE:OGN)

CIBC Asset Management Inc has raised its stake in Organon & Co. (NYSE:OGN) by 4.9% during the fourth quarter, as reported in its latest 13F filing with the Securities and Exchange Commission (SEC). The firm now holds 25,523 shares of Organon, having added 1,184 shares in the recent quarter. The value of CIBC Asset Management Inc's investment in Organon & Co. stood at $381,000 at the conclusion of the last reporting period.

Other institutional investors also made significant adjustments to their holdings in Organon. For instance, Pacer Advisors Inc. made a remarkable increase in its position by 94,482.1% during the fourth quarter, owning an impressive 11,152,179 shares valued at $166,391,000 after acquiring an additional 11,140,388 shares. Geode Capital Management LLC also raised its stake by 2.0% in the third quarter, now holding 4,248,108 shares worth $81,288,000 after buying 82,220 more shares. Additionally, Charles Schwab Investment Management Inc. boosted its holding by 35.7%, owning 3,323,051 shares valued at $63,570,000 after securing 875,128 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake by 6.4% with 2,262,379 shares worth $43,279,000 after obtaining 136,457 shares. Meanwhile, Private Management Group Inc. also enhanced its position by 11.9%, owning 2,119,288 shares valued at $31,620,000 after acquiring 225,420 shares.

Current Stock Performance

As of Monday, Organon & Co. opened at $15.47, having reached a one-year low of $13.87 and a one-year high of $23.10. The company holds a market capitalization of $3.98 billion with a price-to-earnings (P/E) ratio of 4.64 and a P/E to growth (P/E/G) ratio of 0.90. It has a beta of 0.76, and its 50-day moving average price is $15.36, while the 200-day moving average price is $17.26. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70, and a quick ratio of 1.21.

Recent Earnings Announcement

Organon & Co. recently reported its earnings for the quarter ending February 13th. The earnings per share came in at $0.83, which fell short of analysts' expectations of $0.92 by $0.09. The company's net margin was 13.49%, and it recorded a staggering return on equity of 431.62%. Total revenue for the quarter reached $1.59 billion, surpassing the consensus estimate of $1.57 billion. Analysts anticipate that Organon & Co. will report an earnings per share (EPS) of 3.68 for the current fiscal year.

Dividend Announcement

In addition, Organon & Co. has declared a quarterly dividend, set to be paid on March 13th. Shareholders registered by February 24th will receive a dividend of $0.28, equating to an annualized dividend of $1.12 which offers a yield of 7.24%. The ex-dividend date is also February 24th. The company’s dividend payout ratio is 33.63%.

Analyst Ratings and Recommendations

Several research firms have recently provided updates on Organon & Co. TD Cowen upgraded the stock to a "hold" rating on January 15th. Morgan Stanley, however, decreased their target price from $17.00 to $16.00 while maintaining an "equal weight" rating as of February 14th. Barclays also lowered its price target from $26.00 to $24.00 while keeping an "overweight" rating for the company. Currently, there is a mix of ratings for the stock: one analyst has a sell rating, three hold ratings, two buy ratings, and one strong buy rating. According to MarketBeat, the stock has an average price target of $20.80 and a consensus rating of "Hold."

About Organon & Co.

Organon & Co. is a globally focused pharmaceutical company that specializes in developing and providing innovative health solutions. Its portfolio includes prescription therapies within women’s health, biosimilars, and established brands. Founded on March 11, 2020, the company is headquartered in Jersey City, New Jersey.

CIBC, Organon, Investment