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

Fmr LLC lowered its stake in shares of Organon & Co. (NYSE:OGN) by 35.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,810,183 shares of the company’s stock after selling 977,741 shares during the quarter. Fmr LLC owned approximately 0.70% of Organon & Co. worth $34,629,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LSV Asset Management increased 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 valued at $136,843,000 after acquiring an additional 2,121,940 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Organon & Co. during the second quarter worth $33,573,000. AQR Capital Management LLC lifted its position in shares of Organon & Co. by 39.8% in the 2nd quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock worth $71,905,000 after buying an additional 988,336 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Organon & Co. by 35.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company’s stock valued at $63,570,000 after buying an additional 875,128 shares during the period. Finally, Philip James Wealth Mangement LLC acquired a new position in shares of Organon & Co. in the 3rd quarter valued at about $15,386,000. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Down 2.8 %

OGN stock opened at $15.12 on Monday. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 3.00, a price-to-earnings-growth ratio of 0.72 and a beta of 0.75. The company has a 50-day moving average of $16.79 and a two-hundred day moving average of $19.37. Organon & Co. has a 52-week low of $10.92 and a 52-week 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.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the business posted $0.78 earnings per share. Organon & Co.’s revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts anticipate that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.28 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 7.41%. Organon & Co.’s dividend payout ratio is currently 22.22%.

Analysts Set New Price Targets

A number of brokerages recently commented on OGN. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $18.00 to $20.00 in a report on Friday, September 6th.

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.