Magnetar Financial LLC Has $18.69 Million Stake in Organon & Co. (NYSE:OGN)

Magnetar Financial LLC cut its position in shares of Organon & Co. (NYSE:OGN) by 66.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 902,825 shares of the company’s stock after selling 1,825,758 shares during the quarter. Magnetar Financial LLC owned about 0.35% of Organon & Co. worth $18,688,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of OGN. Versant Capital Management Inc grew its holdings in Organon & Co. by 200.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock worth $25,000 after acquiring an additional 805 shares during the period. Atlas Capital Advisors LLC grew its stake in Organon & Co. by 2,236.5% during the second quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock worth $46,000 after purchasing an additional 2,147 shares during the period. Fidelis Capital Partners LLC bought a new stake in Organon & Co. in the first quarter worth approximately $43,000. Tompkins Financial Corp lifted its stake in Organon & Co. by 450.7% in the first quarter. Tompkins Financial Corp now owns 2,412 shares of the company’s stock valued at $45,000 after buying an additional 1,974 shares during the period. Finally, Rothschild Investment LLC bought a new position in shares of Organon & Co. during the 2nd quarter worth approximately $54,000. Institutional investors own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. downgraded shares of Organon & Co. from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $18.00 to $20.00 in a research report on Friday, September 6th.

Organon & Co. Stock Down 3.4 %

Shares of NYSE:OGN opened at $19.49 on Monday. The company has a debt-to-equity ratio of 60.05, a quick ratio of 1.17 and a current ratio of 1.64. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $23.10. The business’s 50 day simple moving average is $21.00 and its two-hundred day simple moving average is $20.12. The firm has a market cap of $5.01 billion, a P/E ratio of 4.77, a PEG ratio of 0.89 and a beta of 0.85.

Organon & Co. (NYSE:OGN) last issued its earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. Organon & Co.’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the business earned $1.31 EPS. As a group, research analysts forecast that Organon & Co. will post 4.14 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 16th were issued a $0.28 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.75%. Organon & Co.’s dividend payout ratio is presently 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.