State Street Corp Decreases Holdings in Organon & Co. (NYSE:OGN)

State Street Corp decreased its stake in shares of Organon & Co. (NYSE:OGN) by 0.3% during the third quarter, HoldingsChannel reports. The firm owned 8,980,388 shares of the company’s stock after selling 28,888 shares during the quarter. State Street Corp’s holdings in Organon & Co. were worth $171,795,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in Organon & Co. during the 3rd quarter valued at approximately $25,000. William B. Walkup & Associates Inc. acquired a new position in Organon & Co. during the 2nd quarter valued at approximately $31,000. Atlas Capital Advisors LLC increased its stake in Organon & Co. by 2,236.5% during the 2nd quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock valued at $46,000 after purchasing an additional 2,147 shares in the last quarter. Abich Financial Wealth Management LLC increased its stake in Organon & Co. by 5,646.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after purchasing an additional 2,315 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new position in Organon & Co. during the 2nd quarter valued at approximately $54,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OGN shares. JPMorgan Chase & Co. lowered shares of Organon & Co. from a “neutral” rating to an “underweight” rating and upped their price target for the company from $18.00 to $20.00 in a research note on Friday, September 6th. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th.

Organon & Co. Stock Down 0.4 %

NYSE:OGN opened at $15.29 on Friday. The firm has a market capitalization of $3.94 billion, a P/E ratio of 3.03, a PEG ratio of 0.73 and a beta of 0.75. Organon & Co. has a 1-year low of $12.62 and a 1-year high of $23.10. The company’s fifty day moving average price is $16.46 and its 200-day moving average price is $19.19. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. As a group, equities research analysts anticipate that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 7.33%. Organon & Co.’s dividend payout ratio is presently 22.22%.

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.