Canada Pension Plan Investment Board Cuts Position in Organon & Co. (NYSE:OGN)

Canada Pension Plan Investment Board lowered its position in Organon & Co. (NYSE:OGN) by 87.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,900 shares of the company’s stock after selling 20,800 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Organon & Co. were worth $60,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new position in Organon & Co. in the first quarter valued at $6,284,000. Friedenthal Financial acquired a new stake in shares of Organon & Co. during the second quarter worth about $769,000. Vanguard Group Inc. lifted its holdings in shares of Organon & Co. by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 30,789,850 shares of the company’s stock valued at $578,849,000 after purchasing an additional 192,613 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Organon & Co. by 23.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 263,051 shares of the company’s stock valued at $4,945,000 after purchasing an additional 50,788 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Organon & Co. during the 1st quarter worth approximately $3,184,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Price Performance

Shares of NYSE OGN opened at $19.18 on Monday. The stock has a fifty day moving average price of $20.84 and a 200 day moving average price of $20.16. Organon & Co. has a 1-year low of $10.84 and a 1-year 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. The company has a market cap of $4.93 billion, a PE ratio of 4.69, a P/E/G ratio of 0.87 and a beta of 0.85.

Organon & Co. (NYSE:OGN) last issued its earnings results 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 business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm earned $1.31 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts forecast that Organon & Co. will post 4.14 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 16th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 5.84%. The ex-dividend date of this dividend was Friday, August 16th. Organon & Co.’s payout ratio is 27.38%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OGN. JPMorgan Chase & Co. downgraded 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 report on Friday, September 6th. Evercore ISI raised shares of Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.00.

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.