DAVENPORT & Co LLC Reduces Stock Position in Organon & Co. (NYSE:OGN)

DAVENPORT & Co LLC reduced its holdings in shares of Organon & Co. (NYSE:OGN) by 32.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,542 shares of the company’s stock after selling 5,083 shares during the quarter. DAVENPORT & Co LLC’s holdings in Organon & Co. were worth $152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in Organon & Co. by 417.8% during the fourth quarter. State of Alaska Department of Revenue now owns 157,249 shares of the company’s stock valued at $2,267,000 after buying an additional 126,882 shares in the last quarter. UBS Group AG increased its holdings in shares of Organon & Co. by 88.3% in the 3rd quarter. UBS Group AG now owns 657,912 shares of the company’s stock valued at $11,421,000 after acquiring an additional 308,470 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Organon & Co. by 2,016.0% during the 4th quarter. Nordea Investment Management AB now owns 3,128,810 shares of the company’s stock valued at $44,648,000 after acquiring an additional 2,980,945 shares in the last quarter. Deutsche Bank AG lifted its stake in Organon & Co. by 29.7% during the third quarter. Deutsche Bank AG now owns 798,210 shares of the company’s stock worth $13,857,000 after purchasing an additional 182,822 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its stake in Organon & Co. by 28.1% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,546,890 shares of the company’s stock worth $26,854,000 after purchasing an additional 339,210 shares during the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Organon & Co.

In other news, insider Kirke Weaver purchased 2,720 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were bought at an average price of $18.36 per share, for a total transaction of $49,939.20. Following the completion of the purchase, the insider now owns 15,181 shares of the company’s stock, valued at $278,723.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, The Goldman Sachs Group boosted their target price on shares of Organon & Co. from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th.

Organon & Co. Trading Up 0.6 %

NYSE:OGN opened at $18.27 on Friday. The stock has a 50 day moving average of $17.87 and a 200-day moving average of $15.60. The firm has a market capitalization of $4.67 billion, a PE ratio of 4.57, a price-to-earnings-growth ratio of 0.86 and a beta of 0.83. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $24.79.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. As a group, analysts predict that Organon & Co. will post 4.08 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, February 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.12 annualized dividend and a yield of 6.13%. Organon & Co.’s dividend payout ratio is presently 28.00%.

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, 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.