Organon & Co. $OGN Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its position in shares of Organon & Co. (NYSE:OGNFree Report) by 16.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 519,796 shares of the company’s stock after selling 99,908 shares during the period. Advisors Asset Management Inc. owned approximately 0.20% of Organon & Co. worth $5,551,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Organon & Co. during the second quarter worth approximately $19,778,000. AQR Capital Management LLC boosted its stake in Organon & Co. by 136.1% during the 2nd quarter. AQR Capital Management LLC now owns 3,254,884 shares of the company’s stock valued at $31,507,000 after acquiring an additional 1,876,264 shares during the last quarter. Private Management Group Inc. grew its holdings in Organon & Co. by 46.4% during the 2nd quarter. Private Management Group Inc. now owns 3,135,960 shares of the company’s stock worth $30,356,000 after acquiring an additional 993,950 shares in the last quarter. Brandywine Global Investment Management LLC increased its position in shares of Organon & Co. by 58.7% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 2,262,626 shares of the company’s stock worth $21,902,000 after purchasing an additional 837,201 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Organon & Co. by 126.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,435,198 shares of the company’s stock valued at $21,370,000 after purchasing an additional 801,307 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Performance

Shares of OGN stock opened at $7.08 on Friday. Organon & Co. has a 12-month low of $6.18 and a 12-month high of $17.23. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 3.69, a price-to-earnings-growth ratio of 1.66 and a beta of 0.58. The business has a 50 day simple moving average of $7.88 and a 200 day simple moving average of $8.61. 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:OGNGet Free Report) last announced its earnings results on Thursday, February 12th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.11). Organon & Co. had a net margin of 7.95% and a return on equity of 143.47%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm earned $0.90 EPS. The firm’s revenue was down 5.3% on a year-over-year basis. On average, equities research analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Analyst Upgrades and Downgrades

OGN has been the subject of a number of research reports. Morgan Stanley decreased their price target on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 11th. Barclays started coverage on Organon & Co. in a report on Tuesday, December 9th. They issued an “underweight” rating and a $7.50 price target for the company. Piper Sandler cut Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a research note on Monday, October 27th. Zacks Research downgraded shares of Organon & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $8.38.

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Organon & Co. Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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