Allspring Global Investments Holdings LLC Sells 37,296 Shares of Organon & Co. (NYSE:OGN)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Organon & Co. (NYSE:OGN) by 31.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,924 shares of the company’s stock after selling 37,296 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Organon & Co. were worth $1,503,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of OGN. Lindbrook Capital LLC grew its holdings in Organon & Co. by 348.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock worth $27,000 after purchasing an additional 1,428 shares during the period. Gladius Capital Management LP increased its position in Organon & Co. by 65.1% in the 4th quarter. Gladius Capital Management LP now owns 2,176 shares of the company’s stock valued at $31,000 after buying an additional 858 shares in the last quarter. Tompkins Financial Corp raised its stake in Organon & Co. by 450.7% during the 1st quarter. Tompkins Financial Corp now owns 2,412 shares of the company’s stock worth $45,000 after buying an additional 1,974 shares during the period. GAMMA Investing LLC bought a new position in Organon & Co. in the fourth quarter worth approximately $38,000. Finally, Hexagon Capital Partners LLC grew its stake in Organon & Co. by 123.9% in the first quarter. Hexagon Capital Partners LLC now owns 2,628 shares of the company’s stock valued at $49,000 after acquiring an additional 1,454 shares during the period. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Up 0.9 %

OGN stock opened at $20.31 on Friday. The firm has a market capitalization of $5.22 billion, a PE ratio of 4.97, a P/E/G ratio of 0.88 and a beta of 0.85. The company has a quick ratio of 1.15, a current ratio of 1.65 and a debt-to-equity ratio of 181.35. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $24.08. The stock’s 50 day moving average is $20.62 and its 200-day moving average is $18.25.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.31. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a negative return on equity of 360.57% and a net margin of 16.50%. Sell-side analysts expect that Organon & Co. will post 4.3 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Monday, May 13th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date was Friday, May 10th. Organon & Co.’s payout ratio is 27.38%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on OGN shares. Piper Sandler upped their target price on Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. The Goldman Sachs Group raised their price objective on shares of Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd.

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.