Organon & Co. (NYSE:OGN) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC trimmed its position in Organon & Co. (NYSE:OGN) by 10.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,753 shares of the company’s stock after selling 1,729 shares during the quarter. Highland Capital Management LLC’s holdings in Organon & Co. were worth $282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Organon & Co. by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 30,789,850 shares of the company’s stock worth $578,849,000 after acquiring an additional 192,613 shares in the last quarter. LSV Asset Management grew its stake in Organon & Co. by 47.3% during the 2nd quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock worth $136,843,000 after buying an additional 2,121,940 shares during the last quarter. Nordea Investment Management AB grew its stake in Organon & Co. by 26.9% during the 1st quarter. Nordea Investment Management AB now owns 3,970,328 shares of the company’s stock worth $74,563,000 after buying an additional 841,518 shares during the last quarter. AQR Capital Management LLC grew its stake in Organon & Co. by 39.8% during the 2nd quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock worth $71,905,000 after buying an additional 988,336 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its stake in Organon & Co. by 6.8% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,421,703 shares of the company’s stock worth $70,829,000 after buying an additional 216,907 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Trading Down 0.3 %

Shares of OGN stock opened at $17.16 on Monday. The business’s 50 day moving average is $19.70 and its two-hundred day moving average is $20.12. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $23.10. The company has a market capitalization of $4.41 billion, a P/E ratio of 4.20, a price-to-earnings-growth ratio of 0.77 and a beta of 0.84. The company has a current ratio of 1.64, a quick ratio of 1.17 and a debt-to-equity ratio of 60.05.

Organon & Co. (NYSE:OGN) last announced its earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the business posted $1.31 EPS. The company’s revenue was down .1% on a year-over-year basis. Equities analysts forecast that Organon & Co. will post 4.12 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 16th were paid a $0.28 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.12 annualized dividend and a dividend yield of 6.53%. Organon & Co.’s dividend payout ratio (DPR) is currently 27.38%.

Analyst Ratings Changes

A number of research analysts recently issued reports on OGN shares. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. downgraded Organon & Co. from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $18.00 to $20.00 in a research note on Friday, September 6th.

Organon & Co. Company 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.