Sequoia Financial Advisors LLC Sells 15,142 Shares of Organon & Co. (NYSE:OGN)

Sequoia Financial Advisors LLC trimmed its holdings in shares of Organon & Co. (NYSE:OGN) by 52.6% during the fourth quarter, HoldingsChannel reports. The firm owned 13,634 shares of the company’s stock after selling 15,142 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Organon & Co. were worth $203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in Organon & Co. by 127.3% in the third quarter. Victory Capital Management Inc. now owns 183,298 shares of the company’s stock worth $3,506,000 after acquiring an additional 102,663 shares during the period. KBC Group NV raised its holdings in shares of Organon & Co. by 19.5% in the 3rd quarter. KBC Group NV now owns 7,744 shares of the company’s stock worth $148,000 after purchasing an additional 1,263 shares during the period. Natixis Advisors LLC lifted its stake in Organon & Co. by 7.9% in the third quarter. Natixis Advisors LLC now owns 48,215 shares of the company’s stock valued at $922,000 after purchasing an additional 3,520 shares during the last quarter. Quest Partners LLC lifted its stake in Organon & Co. by 286.7% in the third quarter. Quest Partners LLC now owns 38,941 shares of the company’s stock valued at $745,000 after purchasing an additional 28,871 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Organon & Co. during the third quarter valued at $25,000. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Stock Down 1.1 %

Shares of NYSE OGN opened at $15.62 on Friday. The business has a 50-day simple moving average of $15.45 and a two-hundred day simple moving average of $16.54. 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 $4.03 billion, a P/E ratio of 4.69, a P/E/G ratio of 0.90 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 quarterly earnings data on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.09). The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. Research analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.12 annualized dividend and a dividend yield of 7.17%. Organon & Co.’s payout ratio is currently 33.63%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. TD Cowen raised Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Morgan Stanley cut their target price on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Finally, Barclays reduced their target price on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.80.

About Organon & Co.

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.