Sio Capital Management LLC Has $11.09 Million Holdings in Organon & Co. (NYSE:OGN)

Sio Capital Management LLC cut its stake in shares of Organon & Co. (NYSE:OGN) by 19.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 471,553 shares of the company’s stock after selling 116,283 shares during the quarter. Organon & Co. accounts for about 5.5% of Sio Capital Management LLC’s holdings, making the stock its 7th biggest holding. Sio Capital Management LLC owned approximately 0.18% of Organon & Co. worth $11,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of OGN. Fairfield Bush & CO. lifted its position in Organon & Co. by 3.0% during the first quarter. Fairfield Bush & CO. now owns 16,302 shares of the company’s stock valued at $569,000 after purchasing an additional 481 shares during the last quarter. Natixis Advisors L.P. lifted its position in Organon & Co. by 52.5% during the first quarter. Natixis Advisors L.P. now owns 50,428 shares of the company’s stock valued at $1,761,000 after purchasing an additional 17,370 shares during the last quarter. MetLife Investment Management LLC lifted its position in Organon & Co. by 23.2% during the first quarter. MetLife Investment Management LLC now owns 68,987 shares of the company’s stock valued at $2,410,000 after purchasing an additional 12,969 shares during the last quarter. Panagora Asset Management Inc. lifted its position in Organon & Co. by 95.6% during the first quarter. Panagora Asset Management Inc. now owns 39,595 shares of the company’s stock valued at $1,383,000 after purchasing an additional 19,352 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Organon & Co. by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,926 shares of the company’s stock worth $1,185,000 after acquiring an additional 2,101 shares in the last quarter. 77.08% of the stock is currently owned by institutional investors.

Organon & Co. Stock Performance

OGN stock opened at $19.29 on Friday. The company has a market capitalization of $4.93 billion, a PE ratio of 6.54, a price-to-earnings-growth ratio of 0.63 and a beta of 0.80. Organon & Co. has a one year low of $18.87 and a one year high of $32.43. The company’s 50 day moving average price is $21.60 and its two-hundred day moving average price is $22.05.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.97 by $0.34. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a net margin of 12.22% and a negative return on equity of 142.40%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. On average, research analysts predict that Organon & Co. will post 4.29 EPS for the current year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Investors of record on Friday, August 18th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 5.81%. The ex-dividend date is Thursday, August 17th. Organon & Co.’s payout ratio is 37.97%.

Analysts Set New Price Targets

Separately, Morgan Stanley lifted their price target on shares of Organon & Co. from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 9th.

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/Implanon, 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.