Organon & Co. (NYSE:OGN) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lessened its stake in Organon & Co. (NYSE:OGNFree Report) by 22.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 27,063 shares of the company’s stock after selling 8,030 shares during the period. CIBC Asset Management Inc’s holdings in Organon & Co. were worth $390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OGN. Lindbrook Capital LLC increased its holdings in shares of Organon & Co. by 348.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock valued at $27,000 after purchasing an additional 1,428 shares during the last quarter. Gladius Capital Management LP increased its holdings in shares of Organon & Co. by 65.1% in the fourth quarter. Gladius Capital Management LP now owns 2,176 shares of the company’s stock valued at $31,000 after purchasing an additional 858 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Organon & Co. in the third quarter valued at approximately $35,000. GAMMA Investing LLC acquired a new stake in shares of Organon & Co. in the fourth quarter valued at approximately $38,000. Finally, Clear Street Markets LLC increased its holdings in shares of 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. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on OGN shares. Piper Sandler raised their target price on Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. The Goldman Sachs Group raised their target price on Organon & Co. from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd.

View Our Latest Research Report on Organon & Co.

Organon & Co. Price Performance

OGN stock opened at $20.70 on Tuesday. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $24.08. The business has a fifty day moving average of $19.73 and a two-hundred day moving average of $17.22. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 5.06, a price-to-earnings-growth ratio of 0.90 and a beta of 0.86. The company has a quick ratio of 1.15, a current ratio of 1.65 and a debt-to-equity ratio of 181.35.

Organon & Co. (NYSE:OGNGet Free Report) last released its quarterly 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 negative return on equity of 360.57% and a net margin of 16.50%. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.57 billion. As a group, research analysts anticipate that Organon & Co. will post 4.3 earnings per share for the current year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Monday, May 13th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, May 10th. This represents a $1.12 annualized dividend and a dividend yield of 5.41%. Organon & Co.’s dividend payout ratio is currently 27.38%.

Organon & Co. Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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