Nisa Investment Advisors LLC Reduces Holdings in Organon & Co. (NYSE:OGN)

Nisa Investment Advisors LLC reduced its position in Organon & Co. (NYSE:OGN) by 37.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,019 shares of the company’s stock after selling 23,621 shares during the period. Nisa Investment Advisors LLC’s holdings in Organon & Co. were worth $597,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Prospera Private Wealth LLC acquired a new stake in Organon & Co. during the 3rd quarter valued at approximately $25,000. Horizon Bancorp Inc. IN grew its position in shares of Organon & Co. by 2,401.5% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after buying an additional 1,585 shares in the last quarter. William B. Walkup & Associates Inc. bought a new stake in shares of Organon & Co. in the second quarter worth $31,000. Versant Capital Management Inc raised its holdings in Organon & Co. by 92.2% in the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock valued at $41,000 after acquiring an additional 1,324 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Organon & Co. by 32.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company’s stock valued at $41,000 after acquiring an additional 672 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, TD Cowen raised shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.33.

Organon & Co. Price Performance

Shares of NYSE OGN opened at $16.06 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 3.19, a price-to-earnings-growth ratio of 0.87 and a beta of 0.76. Organon & Co. has a twelve month low of $13.87 and a twelve month high of $23.10. The business has a 50 day simple moving average of $15.42 and a 200-day simple moving average of $18.00.

Organon & Co. (NYSE:OGN) last released its earnings results on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.03). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, equities research analysts expect that Organon & Co. will post 3.82 earnings per share for the current year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were issued a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 6.97%. Organon & Co.’s dividend payout ratio is currently 22.22%.

Organon & Co. Company Profile

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.