Carret Asset Management LLC Decreases Stock Holdings in Organon & Co. (NYSE:OGN)

Carret Asset Management LLC reduced its stake in shares of Organon & Co. (NYSE:OGN) by 28.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,825 shares of the company’s stock after selling 16,351 shares during the quarter. Carret Asset Management LLC’s holdings in Organon & Co. were worth $768,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in OGN. Envestnet Asset Management Inc. lifted its stake in shares of Organon & Co. by 250.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 199,036 shares of the company’s stock worth $3,455,000 after purchasing an additional 142,301 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Organon & Co. in the third quarter valued at about $207,000. O Shaughnessy Asset Management LLC purchased a new stake in Organon & Co. in the third quarter valued at about $231,000. Qube Research & Technologies Ltd purchased a new stake in Organon & Co. in the third quarter valued at about $3,080,000. Finally, Tower Research Capital LLC TRC raised its stake in Organon & Co. by 142.1% in the third quarter. Tower Research Capital LLC TRC now owns 26,902 shares of the company’s stock valued at $467,000 after buying an additional 15,788 shares during the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Organon & Co. Stock Up 1.0 %

Shares of OGN stock opened at $20.32 on Thursday. The stock’s 50-day simple moving average is $20.58 and its 200-day simple moving average is $18.24. The company has a debt-to-equity ratio of 181.35, a quick ratio of 1.15 and a current ratio of 1.65. The firm has a market capitalization of $5.23 billion, a PE ratio of 4.97, a P/E/G ratio of 0.88 and a beta of 0.85. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $24.08.

Organon & Co. (NYSE:OGN) last posted 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. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a negative return on equity of 360.57% and a net margin of 16.50%. Equities analysts expect that Organon & Co. will post 4.3 earnings per share for the current year.

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Monday, May 13th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 5.51%. The ex-dividend date was Friday, May 10th. Organon & Co.’s dividend payout ratio (DPR) is 27.38%.

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.