HighTower Advisors LLC Sells 11,376 Shares of Organon & Co. (NYSE:OGN)

HighTower Advisors LLC lowered its stake in shares of Organon & Co. (NYSE:OGN – Get Rating) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,725 shares of the company’s stock after selling 11,376 shares during the period. HighTower Advisors LLC’s holdings in Organon & Co. were worth $2,663,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGN. Vanguard Group Inc. raised its position in shares of Organon & Co. by 1.8% during the third quarter. Vanguard Group Inc. now owns 30,230,471 shares of the company’s stock worth $707,394,000 after purchasing an additional 536,373 shares during the period. Mawer Investment Management Ltd. raised its position in shares of Organon & Co. by 22.1% during the fourth quarter. Mawer Investment Management Ltd. now owns 13,179,805 shares of the company’s stock worth $368,112,000 after purchasing an additional 2,381,668 shares during the period. State Street Corp raised its position in shares of Organon & Co. by 27.8% during the first quarter. State Street Corp now owns 11,958,385 shares of the company’s stock worth $417,706,000 after purchasing an additional 2,599,728 shares during the period. Bank of New York Mellon Corp raised its position in shares of Organon & Co. by 10.1% during the third quarter. Bank of New York Mellon Corp now owns 9,066,304 shares of the company’s stock worth $212,151,000 after purchasing an additional 834,392 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Organon & Co. by 0.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,575,257 shares of the company’s stock worth $177,260,000 after purchasing an additional 44,987 shares during the period. Institutional investors own 75.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James started coverage on Organon & Co. in a research report on Wednesday, March 15th. They set an “outperform” rating and a $33.00 price target on the stock.

Organon & Co. Stock Performance

Shares of Organon & Co. stock opened at $20.74 on Tuesday. The business’s 50 day simple moving average is $22.69 and its 200 day simple moving average is $25.68. Organon & Co. has a 52-week low of $20.12 and a 52-week high of $39.09. The firm has a market cap of $5.29 billion, a PE ratio of 7.10, a P/E/G ratio of 0.88 and a beta of 0.77.

Organon & Co. (NYSE:OGN – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.10). Organon & Co. had a net margin of 12.14% and a negative return on equity of 119.00%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the prior year, the business posted $1.65 EPS. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, equities research analysts predict that Organon & Co. will post 4.22 EPS for the current year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Monday, May 15th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date is Friday, May 12th. Organon & Co.’s dividend payout ratio is presently 38.36%.

Organon & Co. Company 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.