Private Advisor Group LLC Cuts Holdings in Organon & Co. (NYSE:OGN)

Private Advisor Group LLC decreased its stake in Organon & Co. (NYSE:OGN) by 47.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,095 shares of the company’s stock after selling 12,728 shares during the period. Private Advisor Group LLC’s holdings in Organon & Co. were worth $204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fruth Investment Management increased its stake in Organon & Co. by 1.9% in the fourth quarter. Fruth Investment Management now owns 37,040 shares of the company’s stock valued at $534,000 after acquiring an additional 700 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Organon & Co. by 15.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 6,032 shares of the company’s stock valued at $105,000 after buying an additional 828 shares in the last quarter. Beddow Capital Management Inc. raised its holdings in shares of Organon & Co. by 1.8% during the 3rd quarter. Beddow Capital Management Inc. now owns 52,879 shares of the company’s stock valued at $918,000 after buying an additional 946 shares in the last quarter. Raymond James Trust N.A. boosted its stake in Organon & Co. by 7.6% in the fourth quarter. Raymond James Trust N.A. now owns 13,868 shares of the company’s stock worth $200,000 after buying an additional 983 shares in the last quarter. Finally, CWM LLC grew its position in Organon & Co. by 8.3% during the fourth quarter. CWM LLC now owns 14,217 shares of the company’s stock valued at $205,000 after acquiring an additional 1,087 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Price Performance

Shares of Organon & Co. stock opened at $20.99 on Friday. The company has a debt-to-equity ratio of 181.35, a current ratio of 1.65 and a quick ratio of 1.15. Organon & Co. has a one year low of $10.84 and a one year high of $24.08. The business’s 50 day simple moving average is $19.14 and its two-hundred day simple moving average is $16.44. The stock has a market capitalization of $5.40 billion, a P/E ratio of 5.13, a price-to-earnings-growth ratio of 0.93 and a beta of 0.81.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, May 2nd. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $0.83 by $0.31. Organon & Co. had a net margin of 16.50% and a negative return on equity of 360.57%. The company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.57 billion. Analysts forecast that Organon & Co. will post 4.3 EPS for the current year.

Organon & Co. Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on OGN. The Goldman Sachs Group boosted their price objective on shares of Organon & Co. from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Piper Sandler boosted their price target on shares of Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th.

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.