Algert Global LLC Sells 57,743 Shares of Organon & Co. (NYSE:OGN)

Algert Global LLC cut its holdings in Organon & Co. (NYSE:OGN) by 24.6% during the second quarter, HoldingsChannel reports. The firm owned 176,553 shares of the company’s stock after selling 57,743 shares during the period. Algert Global LLC’s holdings in Organon & Co. were worth $3,655,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc increased its stake in shares of Organon & Co. by 200.2% in the second quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock worth $25,000 after purchasing an additional 805 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Organon & Co. in the first quarter worth about $43,000. Tompkins Financial Corp increased its stake in shares of Organon & Co. by 450.7% in the first quarter. Tompkins Financial Corp now owns 2,412 shares of the company’s stock worth $45,000 after purchasing an additional 1,974 shares during the period. Atlas Capital Advisors LLC increased its stake in shares of Organon & Co. by 2,236.5% in the second quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock worth $46,000 after purchasing an additional 2,147 shares during the period. Finally, Hexagon Capital Partners LLC increased its stake in shares of Organon & Co. by 123.9% in the first quarter. Hexagon Capital Partners LLC now owns 2,628 shares of the company’s stock worth $49,000 after purchasing an additional 1,454 shares during the period. 77.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on OGN shares. JPMorgan Chase & Co. lowered Organon & Co. from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $18.00 to $20.00 in a research note on Friday, September 6th. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.00.

Organon & Co. Trading Down 0.3 %

Shares of OGN opened at $19.12 on Tuesday. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $23.10. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 4.67, a P/E/G ratio of 0.87 and a beta of 0.85. The stock’s 50-day moving average price is $20.79 and its 200 day moving average price is $20.16. The company has a quick ratio of 1.17, a current ratio of 1.64 and a debt-to-equity ratio of 60.05.

Organon & Co. (NYSE:OGN) last released 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 negative return on equity of 840.29% and a net margin of 15.76%. 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 company posted $1.31 EPS. The company’s revenue was down .1% compared to the same quarter last year. As a group, research analysts predict that Organon & Co. will post 4.14 earnings per share for the current year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.12 annualized dividend and a dividend yield of 5.86%. Organon & Co.’s dividend payout ratio is currently 27.38%.

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.