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

Highland Capital Management LLC reduced its holdings in Organon & Co. (NYSE:OGN) by 10.5% in the 3rd quarter, Holdings Channel reports. 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 recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Organon & Co. by 0.6% during the first quarter. Vanguard Group Inc. now owns 30,789,850 shares of the company’s stock worth $578,849,000 after buying an additional 192,613 shares in the last quarter. LSV Asset Management grew its position in shares of Organon & Co. by 47.3% in the second quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock valued at $136,843,000 after purchasing an additional 2,121,940 shares during the period. Nordea Investment Management AB grew its position in shares of Organon & Co. by 26.9% in the first quarter. Nordea Investment Management AB now owns 3,970,328 shares of the company’s stock valued at $74,563,000 after purchasing an additional 841,518 shares during the period. AQR Capital Management LLC grew its position in shares of Organon & Co. by 39.8% in the second quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock valued at $71,905,000 after purchasing an additional 988,336 shares during the period. Finally, Deprince Race & Zollo Inc. grew its position in shares of Organon & Co. by 6.8% in the second quarter. Deprince Race & Zollo Inc. now owns 3,421,703 shares of the company’s stock valued at $70,829,000 after purchasing an additional 216,907 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Organon & Co. Trading Down 0.3 %

Shares of OGN opened at $17.16 on Monday. The stock’s 50-day moving average is $19.70 and its two-hundred day moving average is $20.12. The stock has a market cap of $4.41 billion, a PE ratio of 4.20, a P/E/G ratio of 0.77 and a beta of 0.84. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $23.10. The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.12 EPS for the quarter, topping 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 business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The company’s revenue was down .1% compared to the same quarter last year. Equities analysts forecast that Organon & Co. will post 4.12 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

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

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.