PNC Financial Services Group Inc. Decreases Stock Holdings in Organon & Co. (NYSE:OGN)

PNC Financial Services Group Inc. trimmed its position in Organon & Co. (NYSE:OGN) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 223,662 shares of the company’s stock after selling 6,517 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Organon & Co. were worth $4,279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV increased its position in Organon & Co. by 1.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,086 shares of the company’s stock valued at $674,000 after purchasing an additional 546 shares during the period. Ballentine Partners LLC increased its position in Organon & Co. by 3.0% during the 2nd quarter. Ballentine Partners LLC now owns 19,105 shares of the company’s stock valued at $395,000 after purchasing an additional 552 shares during the period. Bill Few Associates Inc. grew its position in shares of Organon & Co. by 5.4% in the 2nd quarter. Bill Few Associates Inc. now owns 12,218 shares of the company’s stock worth $253,000 after buying an additional 621 shares during the period. Sippican Capital Advisors grew its position in shares of Organon & Co. by 4.3% in the 3rd quarter. Sippican Capital Advisors now owns 15,230 shares of the company’s stock worth $291,000 after buying an additional 627 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Organon & Co. by 19.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,036 shares of the company’s stock worth $84,000 after buying an additional 649 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Price Performance

OGN opened at $15.28 on Monday. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The stock has a market capitalization of $3.94 billion, a P/E ratio of 3.03, a P/E/G ratio of 0.70 and a beta of 0.84. The company’s 50-day simple moving average is $17.61 and its two-hundred day simple moving average is $19.77. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $23.10.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.03). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the company earned $0.78 EPS. Organon & Co.’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, analysts predict that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 7.33%. The ex-dividend date is Tuesday, November 12th. Organon & Co.’s dividend payout ratio is 22.22%.

Analyst Upgrades and Downgrades

OGN has been the topic of a number of recent research reports. Evercore ISI raised shares of Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and upped their target price for the company from $18.00 to $20.00 in a research note on Friday, September 6th.

Organon & Co. Profile

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.