Massachusetts Financial Services Co. MA Sells 61,926 Shares of Organon & Co. (NYSE:OGN)

Massachusetts Financial Services Co. MA reduced its position in shares of Organon & Co. (NYSE:OGN) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,090,921 shares of the company’s stock after selling 61,926 shares during the quarter. Massachusetts Financial Services Co. MA owned 3.92% of Organon & Co. worth $208,882,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prevail Innovative Wealth Advisors LLC bought a new stake in Organon & Co. during the fourth quarter worth $3,336,000. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in Organon & Co. during the fourth quarter worth $1,850,000. Susquehanna Fundamental Investments LLC bought a new stake in Organon & Co. during the first quarter worth $6,284,000. Friedenthal Financial bought a new stake in Organon & Co. during the second quarter worth $769,000. Finally, Allianz Asset Management GmbH raised its position in shares of Organon & Co. by 156.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,900,554 shares of the company’s stock valued at $27,406,000 after purchasing an additional 1,159,519 shares during the period. 77.43% of the stock is owned by institutional investors.

Organon & Co. Price Performance

Shares of OGN opened at $20.55 on Wednesday. The firm has a market capitalization of $5.29 billion, a PE ratio of 5.02, a PEG ratio of 0.89 and a beta of 0.85. The company’s 50-day moving average is $21.05 and its 200-day moving average is $20.07. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $23.10. The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the firm earned $1.31 earnings per share. The company’s revenue was down .1% on a year-over-year basis. Equities analysts forecast that Organon & Co. will post 4.14 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 16th were paid a $0.28 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.12 annualized dividend and a dividend yield of 5.45%. Organon & Co.’s dividend payout ratio (DPR) is presently 27.38%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered shares of Organon & Co. from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $18.00 to $20.00 in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Organon & Co. presently has an average rating of “Hold” and an average target price of $22.17.

Organon & Co. 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.