Rhumbline Advisers Sells 14,051 Shares of Organon & Co. (NYSE:OGN)

Rhumbline Advisers lowered its holdings in Organon & Co. (NYSE:OGN) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 511,106 shares of the company’s stock after selling 14,051 shares during the period. Rhumbline Advisers owned approximately 0.20% of Organon & Co. worth $7,626,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in shares of Organon & Co. by 217.5% in the third quarter. Blue Trust Inc. now owns 3,661 shares of the company’s stock valued at $76,000 after buying an additional 2,508 shares during the period. International Assets Investment Management LLC increased its stake in Organon & Co. by 1,851.8% during the 3rd quarter. International Assets Investment Management LLC now owns 19,089 shares of the company’s stock worth $365,000 after acquiring an additional 18,111 shares during the period. Abich Financial Wealth Management LLC raised its holdings in Organon & Co. by 5,646.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after acquiring an additional 2,315 shares in the last quarter. Measured Wealth Private Client Group LLC raised its holdings in Organon & Co. by 36.4% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 21,137 shares of the company’s stock valued at $404,000 after acquiring an additional 5,643 shares in the last quarter. Finally, Sippican Capital Advisors lifted its position in shares of Organon & Co. by 4.3% during the 3rd quarter. Sippican Capital Advisors now owns 15,230 shares of the company’s stock valued at $291,000 after acquiring an additional 627 shares during the period. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Performance

Organon & Co. stock opened at $16.18 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The stock has a market cap of $4.17 billion, a PE ratio of 4.86, a P/E/G ratio of 0.90 and a beta of 0.76. Organon & Co. has a 12-month low of $13.87 and a 12-month high of $23.10. The business’s 50-day moving average price is $15.40 and its two-hundred day moving average price is $17.20.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. As a group, analysts expect that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, February 24th. This represents a $1.12 annualized dividend and a dividend yield of 6.92%. Organon & Co.’s dividend payout ratio (DPR) is presently 33.63%.

Wall Street Analyst Weigh In

OGN has been the topic of a number of recent analyst reports. TD Cowen upgraded Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Morgan Stanley decreased their target price on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Finally, Barclays dropped their target price on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $20.80.

About Organon & Co.

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.