Envestnet Boosts Stake in Organon Co. Amid Market Fluctuations

Jersey City, NJ – Envestnet Asset Management Inc. significantly increased its stake in Organon & Co. by 203.4% during the fourth quarter, according to a recent disclosure to the Securities and Exchange Commission. The firm now holds 241,910 shares of Organon, having acquired 162,188 additional shares last quarter.

This expanded stake represents approximately 0.09% of Organon, valued at $3,609,000 as of the latest filing. Other institutional investors have also altered their positions in Organon. Vanguard Group Inc. raised its holdings by 0.7%, owning 30,401,709 shares worth $453,593,000 after purchasing an additional 218,165 shares.

Pacer Advisors Inc. showed remarkable growth, increasing its stake by 94,482.1%. It now holds 11,152,179 shares valued at $166,391,000 following the acquisition of 11,140,388 shares. Massachusetts Financial Services Co. increased its shareholding by 1.4%, owning 9,895,067 shares worth $147,634,000 after buying 136,760 shares.

Geode Capital Management LLC and Charles Schwab Investment Management Inc. also raised their stakes modestly in Organon. As of now, hedge funds and institutional investors collectively own 77.43% of the company’s stock.

Organon shares opened at $12.12 on Friday, with a market capitalization of $3.13 billion. The company’s PE ratio stands at 3.64, and its PEG ratio is 0.90. Historically, Organon has traded between $10.45 and $23.10 over the past year.

The company reported its latest quarterly earnings on February 13, revealing earnings per share of $0.83, falling short of the $0.92 expected by analysts. Revenue for the quarter was $1.59 billion, surpassing the consensus estimate of $1.57 billion. Organon boasts a net margin of 13.49% and a return on equity of 431.62%. Analysts project a rise to 3.68 EPS for the current year.

Additionally, Organon declared a quarterly dividend of $0.28 on March 13 to shareholders of record on February 24, translating to an annualized dividend of $1.12, yielding 9.24%.

Organon has garnered attention from several analysts. TD Cowen recently upgraded the stock to a hold rating, whereas Morgan Stanley cut its price target from $16.00 to $15.00. Barclays also lowered its price target from $26.00 to $24.00, rating the stock overweight. Overall, one analyst rated the stock sell, three rated it hold, two rated it buy, and one rated it strong buy, giving it an average hold rating and a consensus price target of $20.60.

Founded on March 11, 2020, Organon & Co. is a global pharmaceutical company based in Jersey City, NJ, focusing on providing innovative health solutions through various prescription therapies in women’s health, biosimilars, and established brands.