Organon & Co. (NYSE:OGN) Position Cut by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its holdings in Organon & Co. (NYSE:OGN) by 46.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,784 shares of the company’s stock after selling 29,539 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Organon & Co. were worth $487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. 180 Wealth Advisors LLC grew its holdings in Organon & Co. by 172.7% in the 4th quarter. 180 Wealth Advisors LLC now owns 46,087 shares of the company’s stock worth $678,000 after buying an additional 29,189 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in Organon & Co. in the 4th quarter worth approximately $190,000. New York State Teachers Retirement System lifted its position in Organon & Co. by 20.1% in the fourth quarter. New York State Teachers Retirement System now owns 348,226 shares of the company’s stock worth $5,021,000 after purchasing an additional 58,321 shares during the period. Allworth Financial LP lifted its position in Organon & Co. by 68.8% in the fourth quarter. Allworth Financial LP now owns 3,136 shares of the company’s stock worth $45,000 after purchasing an additional 1,278 shares during the period. Finally, Highlander Capital Management LLC lifted its position in Organon & Co. by 632.8% in the fourth quarter. Highlander Capital Management LLC now owns 5,877 shares of the company’s stock worth $85,000 after purchasing an additional 5,075 shares during the period. 77.43% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Kirke Weaver acquired 2,720 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was bought at an average price of $18.36 per share, for a total transaction of $49,939.20. Following the transaction, the insider now owns 15,181 shares of the company’s stock, valued at $278,723.16. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.17% of the company’s stock.

Analysts Set New Price Targets

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

Organon & Co. Price Performance

OGN opened at $17.87 on Thursday. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of 4.47, a price-to-earnings-growth ratio of 0.84 and a beta of 0.83. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $24.79. The business has a 50 day moving average price of $17.96 and a two-hundred day moving average price of $15.61.

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

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.27%. Organon & Co.’s dividend payout ratio (DPR) 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.