Allspring Global Investments Holdings LLC Lowers Holdings in Organon & Co. $OGN

Allspring Global Investments Holdings LLC lessened its stake in Organon & Co. (NYSE:OGN) by 91.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,710 shares of the company’s stock after selling 332,466 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Organon & Co. were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Douglas Lane & Associates LLC raised its position in Organon & Co. by 19.0% in the 2nd quarter. Douglas Lane & Associates LLC now owns 315,952 shares of the company’s stock worth $3,058,000 after buying an additional 50,393 shares during the last quarter. Triumph Capital Management lifted its stake in Organon & Co. by 109.1% during the 2nd quarter. Triumph Capital Management now owns 90,342 shares of the company’s stock valued at $875,000 after acquiring an additional 47,127 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Organon & Co. by 42.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 19,392 shares of the company’s stock valued at $289,000 after acquiring an additional 5,758 shares during the period. M&T Bank Corp lifted its stake in Organon & Co. by 3.4% during the 1st quarter. M&T Bank Corp now owns 55,990 shares of the company’s stock valued at $833,000 after acquiring an additional 1,854 shares during the period. Finally, WBI Investments LLC bought a new position in Organon & Co. during the 1st quarter valued at about $946,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Organon & Co. in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.33.

Organon & Co. Trading Up 1.3%

Shares of NYSE:OGN opened at $9.17 on Friday. The stock has a 50 day moving average of $9.92 and a 200 day moving average of $9.90. The company has a market cap of $2.38 billion, a PE ratio of 3.41, a price-to-earnings-growth ratio of 0.83 and a beta of 0.63. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 11.98. Organon & Co. has a 12-month low of $8.01 and a 12-month high of $19.05.

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

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Friday, August 15th were paid a dividend of $0.02 per share. The ex-dividend date was Friday, August 15th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.9%. Organon & Co.’s payout ratio is 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.