Organon & Co. (NYSE:OGN) Shares Sold by Sound Shore Management Inc. CT

Sound Shore Management Inc. CT reduced its stake in Organon & Co. (NYSE:OGN) by 3.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,870,683 shares of the company’s stock after selling 154,065 shares during the period. Organon & Co. makes up about 3.4% of Sound Shore Management Inc. CT’s holdings, making the stock its 4th largest holding. Sound Shore Management Inc. CT owned about 1.89% of Organon & Co. worth $100,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Organon & Co. by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 30,789,850 shares of the company’s stock worth $578,849,000 after acquiring an additional 192,613 shares in the last quarter. LSV Asset Management grew its stake in shares of Organon & Co. by 47.3% during the second quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock worth $136,843,000 after purchasing an additional 2,121,940 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Organon & Co. by 26.9% during the first quarter. Nordea Investment Management AB now owns 3,970,328 shares of the company’s stock worth $74,563,000 after purchasing an additional 841,518 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Organon & Co. by 1.2% in the first quarter. Principal Financial Group Inc. now owns 2,853,331 shares of the company’s stock valued at $53,643,000 after buying an additional 35,183 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Organon & Co. by 23.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,407,915 shares of the company’s stock valued at $49,843,000 after buying an additional 463,216 shares in the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut Organon & Co. from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $18.00 to $20.00 in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.17.

Organon & Co. Price Performance

Shares of OGN opened at $19.49 on Friday. The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $23.10. The stock has a market cap of $5.01 billion, a PE ratio of 4.77, a price-to-earnings-growth ratio of 0.89 and a beta of 0.85. The firm has a fifty day moving average price of $21.04 and a 200 day moving average price of $20.07.

Organon & Co. (NYSE:OGN) last issued 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. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. Organon & Co.’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.31 EPS. As a group, sell-side analysts anticipate that Organon & Co. will post 4.14 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 16th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 5.75%. The ex-dividend date of this dividend was Friday, August 16th. Organon & Co.’s dividend payout ratio (DPR) is presently 27.38%.

Organon & Co. 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.