Organon & Co. (NYSE:OGN) Shares Sold by Algert Global LLC

Algert Global LLC trimmed its stake in Organon & Co. (NYSE:OGN) by 24.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 176,553 shares of the company’s stock after selling 57,743 shares during the quarter. Algert Global LLC owned approximately 0.07% of Organon & Co. worth $3,655,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of OGN. LSV Asset Management grew its holdings in shares of Organon & Co. by 47.3% in the 2nd quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock worth $136,843,000 after acquiring an additional 2,121,940 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Organon & Co. during the second quarter valued at $33,573,000. Kahn Brothers Group Inc. grew its holdings in shares of Organon & Co. by 3,242.4% during the first quarter. Kahn Brothers Group Inc. now owns 1,180,204 shares of the company’s stock valued at $22,188,000 after buying an additional 1,144,894 shares in the last quarter. Boston Partners purchased a new position in shares of Organon & Co. during the first quarter valued at $19,306,000. Finally, AQR Capital Management LLC grew its holdings in shares of Organon & Co. by 39.8% during the second quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock valued at $71,905,000 after buying an additional 988,336 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded Organon & Co. from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $18.00 to $20.00 in a report on Friday, September 6th. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Organon & Co. has a consensus rating of “Hold” and a consensus price target of $21.00.

Organon & Co. Price Performance

OGN opened at $19.12 on Tuesday. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 4.67, a PEG ratio of 0.87 and a beta of 0.85. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $23.10. The company has a current ratio of 1.64, a quick ratio of 1.17 and a debt-to-equity ratio of 60.05. The stock has a fifty day moving average price of $20.79 and a 200 day moving average price of $20.16.

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

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 16th were given 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 5.86%. Organon & Co.’s dividend payout ratio is currently 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.