Organon & Co. (NYSE:OGN) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its position in Organon & Co. (NYSE:OGN) by 31.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,899 shares of the company’s stock after selling 8,525 shares during the period. Oppenheimer & Co. Inc.’s holdings in Organon & Co. were worth $362,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Organon & Co. by 0.6% during the first 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. O Shaughnessy Asset Management LLC lifted its holdings in Organon & Co. by 187.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 39,758 shares of the company’s stock worth $747,000 after acquiring an additional 25,909 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in Organon & Co. in the 1st quarter valued at $982,000. Shell Asset Management Co. lifted its position in shares of Organon & Co. by 180.8% in the first quarter. Shell Asset Management Co. now owns 16,661 shares of the company’s stock worth $313,000 after purchasing an additional 10,727 shares in the last quarter. Finally, Keeley Teton Advisors LLC increased its position in shares of Organon & Co. by 2.7% during the 1st quarter. Keeley Teton Advisors LLC now owns 56,014 shares of the company’s stock worth $1,053,000 after purchasing an additional 1,487 shares during the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Organon & Co. Price Performance

OGN opened at $14.91 on Friday. The firm has a 50-day moving average price of $17.71 and a 200-day moving average price of $19.81. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 2.96, a PEG ratio of 0.68 and a beta of 0.84. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $23.10. 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. (NYSE:OGN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.03). The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. Organon & Co.’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 earnings per share. Equities analysts expect that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.28 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 7.51%. Organon & Co.’s dividend payout ratio (DPR) is presently 22.22%.

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.