PNC Financial Services Group Inc. Lowers Position in Organon & Co. (NYSE:OGN)

PNC Financial Services Group Inc. cut its stake in shares of Organon & Co. (NYSE:OGN) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 231,789 shares of the company’s stock after selling 17,286 shares during the period. PNC Financial Services Group Inc. owned about 0.09% of Organon & Co. worth $3,342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of OGN. UBS Group AG lifted its position in Organon & Co. by 88.3% during the third quarter. UBS Group AG now owns 657,912 shares of the company’s stock valued at $11,421,000 after purchasing an additional 308,470 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Organon & Co. by 15.5% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 51,386 shares of the company’s stock valued at $892,000 after acquiring an additional 6,902 shares during the period. Rafferty Asset Management LLC raised its holdings in Organon & Co. by 16.3% during the third quarter. Rafferty Asset Management LLC now owns 45,731 shares of the company’s stock valued at $794,000 after acquiring an additional 6,399 shares during the period. Nordea Investment Management AB raised its holdings in Organon & Co. by 69.5% during the third quarter. Nordea Investment Management AB now owns 147,865 shares of the company’s stock valued at $2,564,000 after acquiring an additional 60,653 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Organon & Co. by 250.8% during the third quarter. Envestnet Asset Management Inc. now owns 199,036 shares of the company’s stock valued at $3,455,000 after acquiring an additional 142,301 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Performance

Shares of OGN stock opened at $20.35 on Thursday. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $24.08. The company has a current ratio of 1.65, a quick ratio of 1.15 and a debt-to-equity ratio of 181.35. The stock’s 50-day moving average price is $20.02 and its 200-day moving average price is $17.60. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 4.98, a price-to-earnings-growth ratio of 0.89 and a beta of 0.87.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.14 earnings per share 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 company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Equities research analysts predict that Organon & Co. will post 4.3 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Monday, May 13th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, May 10th. This represents a $1.12 annualized dividend and a yield of 5.50%. Organon & Co.’s payout ratio is currently 27.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler raised their price target 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 lifted their target price on Organon & Co. from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd.

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.