Organon & Co. $OGN Shares Sold by Private Management Group Inc.

Private Management Group Inc. decreased its position in shares of Organon & Co. (NYSE:OGN) by 80.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 739,022 shares of the company’s stock after selling 3,003,139 shares during the period. Private Management Group Inc. owned 0.28% of Organon & Co. worth $10,125,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in Organon & Co. by 7.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 10,671 shares of the company’s stock valued at $146,000 after acquiring an additional 759 shares during the last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Organon & Co. by 7.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 11,164 shares of the company’s stock worth $153,000 after purchasing an additional 761 shares during the period. Cetera Investment Advisers lifted its stake in shares of Organon & Co. by 1.7% during the 1st quarter. Cetera Investment Advisers now owns 48,073 shares of the company’s stock worth $288,000 after purchasing an additional 788 shares during the period. Choreo LLC lifted its stake in shares of Organon & Co. by 5.0% during the 3rd quarter. Choreo LLC now owns 18,511 shares of the company’s stock worth $254,000 after purchasing an additional 886 shares during the period. Finally, Wedmont Private Capital boosted its holdings in shares of Organon & Co. by 8.9% during the third quarter. Wedmont Private Capital now owns 10,954 shares of the company’s stock worth $151,000 after purchasing an additional 899 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Organon & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $12.00.

Organon & Co. Trading Up 0.3%

NYSE OGN opened at $13.89 on Wednesday. Organon & Co. has a 12 month low of $5.69 and a 12 month high of $13.89. The company has a 50-day moving average of $13.75 and a 200-day moving average of $11.64. The company has a debt-to-equity ratio of 7.11, a current ratio of 2.02 and a quick ratio of 1.51. The company has a market cap of $3.65 billion, a P/E ratio of 18.28, a P/E/G ratio of 1.27 and a beta of 1.53.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Friday, October 30th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.06. Organon & Co. had a net margin of 3.49% and a return on equity of 82.06%. The business had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.58 billion. As a group, equities analysts predict that Organon & Co. will post 3.24 earnings per share for the current year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 9th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, November 9th. Organon & Co.’s dividend payout ratio (DPR) is 10.53%.

About Organon & Co.

Organon & Co. is a global health care company focused on women’s health, biosimilars and established medicines. It develops and markets prescription medicines and other health products for patients and health care professionals. Its women’s health portfolio includes contraceptive and fertility products, while its biosimilars business offers biologic medicines in areas such as immunology and oncology. The company also sells established medicines across several therapeutic areas, including cardiovascular health, respiratory conditions and dermatology.