Vanguard Group Inc. Has $441.21 Million Stock Position in Organon & Co. (NYSE:OGN)

Vanguard Group Inc. lowered its stake in Organon & Co. (NYSE:OGN) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,597,237 shares of the company’s stock after selling 832,896 shares during the quarter. Vanguard Group Inc. owned approximately 11.97% of Organon & Co. worth $441,212,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of OGN. Envestnet Asset Management Inc. increased its position in shares of Organon & Co. by 250.8% in 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 last quarter. FMR LLC grew its holdings in Organon & Co. by 28.3% during the third quarter. FMR LLC now owns 2,189,693 shares of the company’s stock worth $38,013,000 after purchasing an additional 483,257 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Organon & Co. during the third quarter worth about $207,000. Profund Advisors LLC grew its holdings in Organon & Co. by 10.6% during the third quarter. Profund Advisors LLC now owns 34,808 shares of the company’s stock worth $604,000 after purchasing an additional 3,330 shares during the period. Finally, O Shaughnessy Asset Management LLC bought a new position in Organon & Co. during the third quarter worth about $231,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Trading Down 0.8 %

Shares of NYSE:OGN opened at $20.62 on Thursday. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $24.08. The stock has a market cap of $5.30 billion, a PE ratio of 5.04, a P/E/G ratio of 0.90 and a beta of 0.87. The business has a 50 day moving average of $20.36 and a 200-day moving average of $17.95. 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:OGN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.57 billion. As a group, equities research analysts forecast that Organon & Co. will post 4.3 earnings per share for the current year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Monday, May 13th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.43%. Organon & Co.’s payout ratio is 27.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on OGN shares. The Goldman Sachs Group lifted their price target on Organon & Co. from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Piper Sandler lifted their price target on Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a report 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.