Handelsbanken Fonder AB Lowers Stock Holdings in Organon & Co. $OGN

Handelsbanken Fonder AB lessened its stake in Organon & Co. (NYSE:OGN) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,200 shares of the company’s stock after selling 8,365 shares during the period. Handelsbanken Fonder AB’s holdings in Organon & Co. were worth $709,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. HB Wealth Management LLC increased its holdings in shares of Organon & Co. by 19.7% in the first quarter. HB Wealth Management LLC now owns 21,689 shares of the company’s stock valued at $323,000 after purchasing an additional 3,575 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Organon & Co. by 5.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,820 shares of the company’s stock worth $995,000 after purchasing an additional 3,551 shares during the period. Federated Hermes Inc. grew its position in Organon & Co. by 10.9% in the 1st quarter. Federated Hermes Inc. now owns 83,942 shares of the company’s stock valued at $1,250,000 after buying an additional 8,265 shares during the last quarter. Natixis Advisors LLC increased its stake in Organon & Co. by 69.1% in the 1st quarter. Natixis Advisors LLC now owns 52,263 shares of the company’s stock valued at $778,000 after buying an additional 21,358 shares during the period. Finally, LSV Asset Management increased its stake in Organon & Co. by 6.1% in the 1st quarter. LSV Asset Management now owns 7,980,775 shares of the company’s stock valued at $118,834,000 after buying an additional 455,699 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Stock Down 0.3%

Shares of NYSE OGN opened at $7.72 on Friday. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 4.02, a price-to-earnings-growth ratio of 1.65 and a beta of 0.59. Organon & Co. has a 52 week low of $6.18 and a 52 week high of $17.23. The firm has a 50-day moving average price of $8.59 and a 200 day moving average price of $9.27. The company has a quick ratio of 1.20, a current ratio of 1.75 and a debt-to-equity ratio of 9.69.

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

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 20th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.08 annualized dividend and a yield of 1.0%. Organon & Co.’s payout ratio is currently 4.17%.

Wall Street Analysts Forecast Growth

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

Organon & Co. 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.