HB Wealth Management LLC Sells 10,750 Shares of Organon & Co. $OGN

HB Wealth Management LLC lowered its stake in shares of Organon & Co. (NYSE:OGN) by 49.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,939 shares of the company’s stock after selling 10,750 shares during the quarter. HB Wealth Management LLC’s holdings in Organon & Co. were worth $106,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of OGN. Hanson & Doremus Investment Management purchased a new stake in shares of Organon & Co. in the 2nd quarter worth $26,000. Ransom Advisory Ltd purchased a new stake in shares of Organon & Co. during the 1st quarter worth $32,000. Brooklyn Investment Group lifted its stake in shares of Organon & Co. by 1,012.3% during the 1st quarter. Brooklyn Investment Group now owns 3,070 shares of the company’s stock worth $46,000 after purchasing an additional 2,794 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Organon & Co. during the 2nd quarter worth $48,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Organon & Co. during the 1st quarter worth $51,000. Institutional investors own 77.43% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Organon & Co. in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Organon & Co. has an average rating of “Moderate Buy” and an average price target of $17.33.

Organon & Co. Stock Down 2.2%

Organon & Co. stock opened at $10.60 on Wednesday. Organon & Co. has a twelve month low of $8.01 and a twelve month high of $19.05. The stock has a 50 day moving average of $9.88 and a two-hundred day moving average of $10.31. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 11.98. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 3.94, a PEG ratio of 0.98 and a beta of 0.63.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. Organon & Co. had a return on equity of 163.88% and a net margin of 11.15%.The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the firm earned $1.12 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. Organon & Co. has set its FY 2025 guidance at EPS. As a group, research analysts expect that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 15th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 15th. Organon & Co.’s dividend payout ratio (DPR) is currently 2.97%.

Organon & Co. Company Profile

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.