Advisors Asset Management Inc. Sells 64,625 Shares of Organon & Co. $OGN

Advisors Asset Management Inc. cut its stake in shares of Organon & Co. (NYSE:OGN) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 619,704 shares of the company’s stock after selling 64,625 shares during the period. Advisors Asset Management Inc. owned about 0.24% of Organon & Co. worth $5,999,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of Organon & Co. by 22.4% during the 2nd quarter. GAMMA Investing LLC now owns 5,645 shares of the company’s stock valued at $55,000 after buying an additional 1,034 shares in the last quarter. Maryland State Retirement & Pension System raised its stake in Organon & Co. by 1.4% during the 2nd quarter. Maryland State Retirement & Pension System now owns 88,420 shares of the company’s stock worth $856,000 after acquiring an additional 1,195 shares during the period. Allworth Financial LP raised its stake in Organon & Co. by 65.9% during the 2nd quarter. Allworth Financial LP now owns 4,501 shares of the company’s stock worth $44,000 after acquiring an additional 1,788 shares during the period. Yousif Capital Management LLC lifted its holdings in Organon & Co. by 2.3% during the second quarter. Yousif Capital Management LLC now owns 79,975 shares of the company’s stock valued at $774,000 after purchasing an additional 1,789 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of Organon & Co. by 293.8% in the second quarter. Hantz Financial Services Inc. now owns 2,674 shares of the company’s stock worth $26,000 after purchasing an additional 1,995 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Performance

NYSE:OGN opened at $7.78 on Thursday. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 4.05, a PEG ratio of 1.61 and a beta of 0.59. Organon & Co. has a 1 year low of $6.18 and a 1 year high of $17.23. The stock’s 50 day simple moving average is $8.71 and its two-hundred day simple moving average is $9.28. The company has a debt-to-equity ratio of 9.69, a current ratio of 1.75 and a quick ratio of 1.20.

Organon & Co. (NYSE:OGN) last posted its earnings results on Monday, November 10th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a net margin of 7.95% and a return on equity of 143.47%. During the same period last year, the firm posted $1.38 earnings per share. Organon & Co. has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 20th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.0%. Organon & Co.’s dividend payout ratio (DPR) is presently 4.17%.

Analysts Set New Price Targets

Several brokerages have recently commented on OGN. JPMorgan Chase & Co. decreased their price objective on shares of Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 11th. Morgan Stanley decreased their price target on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d+)” rating on shares of Organon & Co. in a research report on Wednesday, October 8th. Finally, Piper Sandler cut Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Organon & Co. currently has an average rating of “Hold” and an average price target of $12.50.

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.