Pictet Asset Management SA Lowers Stock Position in Organon & Co. (NYSE:OGN)

Pictet Asset Management SA reduced its stake in Organon & Co. (NYSE:OGN – Get Rating) by 9.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,728 shares of the company’s stock after selling 3,479 shares during the quarter. Pictet Asset Management SA’s holdings in Organon & Co. were worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of OGN. Fairfield Bush & CO. raised its stake in Organon & Co. by 3.0% in the first quarter. Fairfield Bush & CO. now owns 16,302 shares of the company’s stock valued at $569,000 after purchasing an additional 481 shares in the last quarter. Natixis Advisors L.P. raised its stake in shares of Organon & Co. by 52.5% during the first quarter. Natixis Advisors L.P. now owns 50,428 shares of the company’s stock worth $1,761,000 after acquiring an additional 17,370 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Organon & Co. by 23.2% during the first quarter. MetLife Investment Management LLC now owns 68,987 shares of the company’s stock worth $2,410,000 after acquiring an additional 12,969 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of Organon & Co. by 95.6% during the first quarter. Panagora Asset Management Inc. now owns 39,595 shares of the company’s stock worth $1,383,000 after acquiring an additional 19,352 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Organon & Co. by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,926 shares of the company’s stock worth $1,185,000 after acquiring an additional 2,101 shares in the last quarter. 75.74% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Stock Down 2.0 %

Shares of NYSE OGN opened at $25.09 on Tuesday. Organon & Co. has a 52 week low of $22.88 and a 52 week high of $39.47. The firm’s fifty day moving average is $29.07 and its 200 day moving average is $27.41. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 6.99, a PEG ratio of 1.03 and a beta of 0.74.

Organon & Co. (NYSE:OGN – Get Rating) last issued its earnings results on Thursday, February 16th. The company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Organon & Co. had a negative return on equity of 111.56% and a net margin of 14.85%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm earned $1.37 earnings per share. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. Equities research analysts anticipate that Organon & Co. will post 4.43 earnings per share for the current year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Investors of record on Monday, February 27th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Friday, February 24th. Organon & Co.’s payout ratio is 31.20%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley decreased their price target on shares of Organon & Co. from $27.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Friday, November 4th.

Organon & Co. Profile

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Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.