Organon & Co. $OGN Stake Lowered by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in Organon & Co. (NYSE:OGN) by 88.7% during the second quarter, HoldingsChannel reports. The fund owned 34,228 shares of the company’s stock after selling 268,910 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Organon & Co. were worth $331,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ransom Advisory Ltd purchased a new position in Organon & Co. in the first quarter valued at about $32,000. Hanson & Doremus Investment Management bought a new stake in shares of Organon & Co. in the 2nd quarter valued at approximately $26,000. Brooklyn Investment Group grew its stake in shares of Organon & Co. by 1,012.3% in the 1st quarter. Brooklyn Investment Group now owns 3,070 shares of the company’s stock valued at $46,000 after buying an additional 2,794 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Organon & Co. in the first quarter worth approximately $51,000. Finally, PARK CIRCLE Co raised its position in Organon & Co. by 640.7% during the first quarter. PARK CIRCLE Co now owns 4,000 shares of the company’s stock valued at $60,000 after acquiring an additional 3,460 shares in the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Organon & Co. in a research note on Wednesday, October 8th. Morgan Stanley reduced their price objective on shares of Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 11th. JPMorgan Chase & Co. lowered their target price on shares of Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 11th. Finally, Piper Sandler lowered Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.50.

Organon & Co. Price Performance

NYSE OGN opened at $7.78 on Friday. Organon & Co. has a 1 year low of $6.18 and a 1 year high of $17.23. The company has a fifty day simple moving average of $8.65 and a 200 day simple moving average of $9.27. The company has a current ratio of 1.75, a quick ratio of 1.20 and a debt-to-equity ratio of 9.69. The company has a market cap of $2.02 billion, a P/E ratio of 4.05, a P/E/G ratio of 1.66 and a beta of 0.59.

Organon & Co. (NYSE:OGN) last announced its earnings results on Monday, November 10th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.93 by $0.08. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a net margin of 7.95% and a return on equity of 143.47%. During the same quarter last year, the firm posted $1.38 EPS. Organon & Co. has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th will be paid a $0.02 dividend. The ex-dividend date is Thursday, November 20th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.0%. Organon & Co.’s payout ratio is presently 4.17%.

Organon & Co. Profile

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.