Douglas Lane & Associates LLC Sells 260,842 Shares of Organon & Co. (NYSE:OGN)

Douglas Lane & Associates LLC reduced its stake in Organon & Co. (NYSE:OGN) by 49.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 270,838 shares of the company’s stock after selling 260,842 shares during the period. Douglas Lane & Associates LLC owned approximately 0.11% of Organon & Co. worth $4,041,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of OGN. Range Financial Group LLC bought a new stake in Organon & Co. during the 4th quarter valued at about $827,000. CWA Asset Management Group LLC grew its holdings in shares of Organon & Co. by 27.0% during the fourth quarter. CWA Asset Management Group LLC now owns 23,596 shares of the company’s stock valued at $352,000 after buying an additional 5,017 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Organon & Co. by 92.2% during the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock valued at $41,000 after acquiring an additional 1,324 shares in the last quarter. Garden State Investment Advisory Services LLC purchased a new position in Organon & Co. in the 3rd quarter worth approximately $203,000. Finally, Franklin Resources Inc. raised its holdings in Organon & Co. by 3.9% in the 3rd quarter. Franklin Resources Inc. now owns 344,138 shares of the company’s stock worth $6,229,000 after acquiring an additional 13,029 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Stock Performance

Shares of NYSE OGN opened at $15.99 on Thursday. The firm’s 50-day moving average price is $15.46 and its 200-day moving average price is $18.46. Organon & Co. has a 52-week low of $13.87 and a 52-week high of $23.10. The company has a market cap of $4.12 billion, a PE ratio of 3.17, a PEG ratio of 0.81 and a beta of 0.76. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, October 31st. The company reported $0.87 earnings per share (EPS) 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 company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the business posted $0.78 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, analysts anticipate that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 7.00%. The ex-dividend date was Tuesday, November 12th. Organon & Co.’s payout ratio is currently 22.22%.

Analysts Set New Price Targets

Separately, Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th.

About Organon & Co.

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.