Gilman Hill Asset Management LLC Reduces Position in Organon & Co. $OGN

Gilman Hill Asset Management LLC lessened its holdings in shares of Organon & Co. (NYSE:OGN) by 87.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,935 shares of the company’s stock after selling 177,746 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Organon & Co. were worth $277,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in OGN. True North Advisors LLC purchased a new position in Organon & Co. during the 3rd quarter valued at about $158,000. Douglas Lane & Associates LLC grew its position in Organon & Co. by 40.5% during the third quarter. Douglas Lane & Associates LLC now owns 443,876 shares of the company’s stock worth $4,741,000 after buying an additional 127,924 shares in the last quarter. GAMMA Investing LLC increased its stake in Organon & Co. by 22.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,910 shares of the company’s stock worth $74,000 after acquiring an additional 1,265 shares during the last quarter. Osaic Holdings Inc. increased its stake in Organon & Co. by 25.5% in the 2nd quarter. Osaic Holdings Inc. now owns 60,791 shares of the company’s stock worth $594,000 after acquiring an additional 12,363 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its holdings in shares of Organon & Co. by 96.5% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 63,509 shares of the company’s stock valued at $615,000 after acquiring an additional 31,190 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on OGN. JPMorgan Chase & Co. decreased their price objective on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, November 11th. Barclays assumed coverage on shares of Organon & Co. in a report on Tuesday, December 9th. They set an “underweight” rating and a $7.50 target price on the stock. Piper Sandler lowered shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price target for the company. in a research report on Monday, October 27th. Morgan Stanley decreased their price objective 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. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Organon & Co. in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $8.38.

Organon & Co. Trading Up 0.1%

OGN opened at $7.10 on Thursday. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 3.70, a PEG ratio of 1.52 and a beta of 0.57. Organon & Co. has a one year low of $6.18 and a one year high of $17.23. The business has a 50 day simple moving average of $7.44 and a two-hundred day simple moving average of $9.03. 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 announced its earnings results on Monday, November 10th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. Organon & Co. had a return on equity of 143.47% and a net margin of 7.95%.The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company earned $1.38 earnings per share. Analysts predict that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th were issued a dividend of $0.02 per share. The ex-dividend date was Thursday, November 20th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.1%. Organon & Co.’s dividend payout ratio is 4.17%.

About Organon & Co.

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.