Public Sector Pension Investment Board Decreases Stock Holdings in Organon & Co. (NYSE:OGN)

Public Sector Pension Investment Board reduced its holdings in shares of Organon & Co. (NYSE:OGN) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 546,266 shares of the company’s stock after selling 19,600 shares during the quarter. Public Sector Pension Investment Board owned 0.21% of Organon & Co. worth $10,450,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Versant Capital Management Inc boosted its stake in shares of Organon & Co. by 200.2% in the second quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock valued at $25,000 after purchasing an additional 805 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Organon & Co. in the third quarter valued at $25,000. William B. Walkup & Associates Inc. purchased a new position in shares of Organon & Co. in the second quarter valued at $31,000. Atlas Capital Advisors LLC boosted its stake in shares of Organon & Co. by 2,236.5% in the second quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock valued at $46,000 after purchasing an additional 2,147 shares during the period. Finally, Abich Financial Wealth Management LLC boosted its stake in shares of Organon & Co. by 5,646.3% in the third quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after purchasing an additional 2,315 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on OGN. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and upped their price target for the company from $18.00 to $20.00 in a report on Friday, September 6th. Evercore ISI raised shares of Organon & Co. to a “strong-buy” rating in a report on Wednesday, September 18th.

Organon & Co. Stock Up 1.2 %

OGN stock opened at $15.98 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $23.10. The firm’s 50-day simple moving average is $17.34 and its 200 day simple moving average is $19.68. The stock has a market cap of $4.12 billion, a PE ratio of 3.17, a price-to-earnings-growth ratio of 0.75 and a beta of 0.84.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the business earned $0.78 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts predict that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 7.01%. Organon & Co.’s dividend payout ratio is presently 22.22%.

Organon & Co. Company Profile

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.