Organon & Co. (NYSE:OGN) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of Organon & Co. (NYSE:OGN) by 76.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,220 shares of the company’s stock after selling 382,377 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Organon & Co. were worth $1,690,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its position in Organon & Co. by 495.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,602 shares of the company’s stock worth $28,000 after acquiring an additional 1,333 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Organon & Co. during the third quarter worth $35,000. EverSource Wealth Advisors LLC lifted its position in shares of Organon & Co. by 97.7% during the third quarter. EverSource Wealth Advisors LLC now owns 2,246 shares of the company’s stock worth $39,000 after purchasing an additional 1,110 shares in the last quarter. Clear Street Markets LLC boosted its stake in shares of Organon & Co. by 588.9% in the third quarter. Clear Street Markets LLC now owns 2,294 shares of the company’s stock valued at $40,000 after purchasing an additional 1,961 shares during the period. Finally, Column Capital Advisors LLC grew its holdings in Organon & Co. by 148.8% during the 3rd quarter. Column Capital Advisors LLC now owns 2,336 shares of the company’s stock valued at $41,000 after purchasing an additional 1,397 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Insider Activity at Organon & Co.

In other news, insider Kirke Weaver bought 2,720 shares of Organon & Co. stock in a transaction on Thursday, February 22nd. The shares were bought at an average price of $18.36 per share, with a total value of $49,939.20. Following the acquisition, the insider now directly owns 15,181 shares in the company, valued at approximately $278,723.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their price objective on shares of Organon & Co. from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th.

Organon & Co. Trading Up 1.0 %

Organon & Co. stock opened at $18.00 on Tuesday. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $24.79. The stock has a market cap of $4.60 billion, a P/E ratio of 4.50, a price-to-earnings-growth ratio of 0.84 and a beta of 0.83. The stock has a 50 day moving average of $18.05 and a 200-day moving average of $15.63.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.14. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Organon & Co. had a net margin of 16.33% and a negative return on equity of 212.00%. As a group, equities analysts predict that Organon & Co. will post 4.08 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, February 26th were paid a $0.28 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.12 dividend on an annualized basis and a yield of 6.22%. Organon & Co.’s dividend payout ratio (DPR) is 28.00%.

About Organon & Co.

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.