PNC Financial Services Group Inc. Sells 17,286 Shares of Organon & Co. (NYSE:OGN)

PNC Financial Services Group Inc. reduced its position in Organon & Co. (NYSE:OGN) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 231,789 shares of the company’s stock after selling 17,286 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Organon & Co. were worth $3,342,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OGN. Norges Bank bought a new position in shares of Organon & Co. during the fourth quarter valued at $26,321,000. Quadrant Capital Group LLC lifted its holdings in shares of Organon & Co. by 1,222.3% during the fourth quarter. Quadrant Capital Group LLC now owns 11,464 shares of the company’s stock valued at $165,000 after acquiring an additional 10,597 shares during the period. Eagle Bay Advisors LLC lifted its holdings in shares of Organon & Co. by 100.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 2,800 shares of the company’s stock valued at $40,000 after acquiring an additional 1,400 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Organon & Co. by 47.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 58,931 shares of the company’s stock valued at $850,000 after acquiring an additional 19,067 shares during the period. Finally, M&G Investment Management Ltd. lifted its holdings in shares of Organon & Co. by 279.8% during the fourth quarter. M&G Investment Management Ltd. now owns 866,003 shares of the company’s stock valued at $12,124,000 after acquiring an additional 638,016 shares during the period. 77.43% of the stock is owned by institutional investors.

Organon & Co. Stock Performance

Shares of NYSE:OGN opened at $20.99 on Friday. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $24.08. The firm has a market cap of $5.40 billion, a PE ratio of 5.13, a price-to-earnings-growth ratio of 0.91 and a beta of 0.81. The company has a debt-to-equity ratio of 181.35, a quick ratio of 1.15 and a current ratio of 1.65. The business has a fifty day moving average of $19.14 and a 200-day moving average of $16.44.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.31. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a negative return on equity of 360.57% and a net margin of 16.50%. On average, equities research analysts predict that Organon & Co. will post 4.3 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Monday, May 13th will be given a $0.28 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.12 dividend on an annualized basis and a yield of 5.34%. Organon & Co.’s payout ratio is 27.38%.

Analyst Ratings Changes

OGN has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, April 29th. The Goldman Sachs Group raised their target price on Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd.

About Organon & Co.

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.