Organon & Co. (NYSE:OGN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of Organon & Co. (NYSE:OGN) by 8.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,725 shares of the company’s stock after selling 3,545 shares during the period. Mutual of America Capital Management LLC’s holdings in Organon & Co. were worth $741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its stake in Organon & Co. by 7.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 145,205 shares of the company’s stock valued at $2,730,000 after acquiring an additional 9,491 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Organon & Co. in the first quarter valued at approximately $473,000. B. Riley Wealth Advisors Inc. purchased a new position in Organon & Co. during the first quarter worth approximately $176,000. Tidal Investments LLC lifted its position in Organon & Co. by 105.9% during the first quarter. Tidal Investments LLC now owns 126,312 shares of the company’s stock worth $2,374,000 after buying an additional 64,965 shares in the last quarter. Finally, Comerica Bank boosted its stake in Organon & Co. by 1.8% during the first quarter. Comerica Bank now owns 126,713 shares of the company’s stock worth $2,382,000 after buying an additional 2,200 shares during the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Price Performance

Shares of NYSE OGN opened at $15.80 on Wednesday. The stock has a fifty day moving average price of $17.52 and a 200 day moving average price of $19.74. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $23.10. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. The company has a market cap of $4.07 billion, a PE ratio of 3.13, a P/E/G ratio of 0.72 and a beta of 0.84.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. Sell-side analysts forecast that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.09%. The ex-dividend date of this dividend is Tuesday, November 12th. Organon & Co.’s dividend payout ratio is presently 22.22%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OGN. JPMorgan Chase & Co. lowered 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 report on Friday, September 6th. Evercore ISI raised shares of Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th.

Organon & Co. Company 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.