Mirae Asset Global Investments Co. Ltd. Has $767,000 Position in Organon & Co. (NYSE:OGN)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in Organon & Co. (NYSE:OGN) by 44.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 53,211 shares of the company’s stock after selling 43,244 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Organon & Co. were worth $767,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd lifted its stake in shares of Organon & Co. by 495.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,602 shares of the company’s stock valued at $28,000 after acquiring an additional 1,333 shares during the period. Headlands Technologies LLC acquired a new position in shares of Organon & Co. during the third quarter valued at $35,000. EverSource Wealth Advisors LLC increased its holdings in Organon & Co. by 97.7% in the third quarter. EverSource Wealth Advisors LLC now owns 2,246 shares of the company’s stock valued at $39,000 after purchasing an additional 1,110 shares during the last quarter. Clear Street Markets LLC increased its holdings in Organon & Co. by 588.9% in the third quarter. Clear Street Markets LLC now owns 2,294 shares of the company’s stock valued at $40,000 after purchasing an additional 1,961 shares during the last quarter. Finally, Column Capital Advisors LLC increased its holdings in Organon & Co. by 148.8% in the third quarter. Column Capital Advisors LLC now owns 2,336 shares of the company’s stock valued at $41,000 after purchasing an additional 1,397 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Insiders Place Their Bets

In other Organon & Co. news, insider Kirke Weaver purchased 2,720 shares of the stock in a transaction on Thursday, February 22nd. The stock was bought at an average cost of $18.36 per share, for a total transaction of $49,939.20. Following the completion of the acquisition, the insider now directly owns 15,181 shares of the company’s stock, valued at $278,723.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their price objective on Organon & Co. from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th.

Organon & Co. Trading Up 1.0 %

NYSE OGN opened at $18.71 on Thursday. The stock has a 50-day simple moving average of $18.14 and a 200 day simple moving average of $15.67. The company has a market capitalization of $4.78 billion, a PE ratio of 4.68, a P/E/G ratio of 0.85 and a beta of 0.83. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $24.79.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.14. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. As a group, sell-side analysts predict that Organon & Co. will post 4.08 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, February 26th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.12 annualized dividend and a dividend yield of 5.99%. Organon & Co.’s dividend payout ratio (DPR) is currently 28.00%.

Organon & Co. Company 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.