Orion Portfolio Solutions LLC Lowers Position in Organon & Co. (NYSE:OGN)

Orion Portfolio Solutions LLC lessened its holdings in shares of Organon & Co. (NYSE:OGN) by 65.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,660 shares of the company’s stock after selling 20,010 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Organon & Co. were worth $204,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV lifted its position in Organon & Co. by 1.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 31,086 shares of the company’s stock valued at $674,000 after purchasing an additional 546 shares during the last quarter. Ballentine Partners LLC increased its stake in Organon & Co. by 3.0% in the second quarter. Ballentine Partners LLC now owns 19,105 shares of the company’s stock valued at $395,000 after acquiring an additional 552 shares during the last quarter. Sippican Capital Advisors increased its stake in Organon & Co. by 4.3% in the third quarter. Sippican Capital Advisors now owns 15,230 shares of the company’s stock valued at $291,000 after acquiring an additional 627 shares during the last quarter. Commerce Bank raised its position in Organon & Co. by 5.5% during the third quarter. Commerce Bank now owns 12,168 shares of the company’s stock valued at $233,000 after purchasing an additional 637 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Organon & Co. by 6.6% during the second quarter. Signaturefd LLC now owns 11,308 shares of the company’s stock worth $234,000 after purchasing an additional 698 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. cut Organon & Co. from a “neutral” rating to an “underweight” rating and raised their price objective 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 research note on Wednesday, September 18th.

Organon & Co. Stock Up 1.0 %

OGN opened at $14.58 on Friday. Organon & Co. has a 12 month low of $13.40 and a 12 month high of $23.10. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The business’s 50-day moving average price is $16.12 and its 200-day moving average price is $18.97. The company has a market cap of $3.75 billion, a P/E ratio of 2.89, a P/E/G ratio of 0.81 and a beta of 0.75.

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

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 7.68%. Organon & Co.’s payout ratio is currently 22.22%.

About Organon & Co.

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.