Organon & Co. (NYSE:OGN) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC cut its stake in shares of Organon & Co. (NYSE:OGN) by 8.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,806 shares of the company’s stock after selling 3,579 shares during the quarter. Carret Asset Management LLC’s holdings in Organon & Co. were worth $704,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in OGN. Impact Partnership Wealth LLC bought a new position in Organon & Co. during the 3rd quarter worth $251,000. International Assets Investment Management LLC lifted its stake in Organon & Co. by 1,851.8% in the third quarter. International Assets Investment Management LLC now owns 19,089 shares of the company’s stock valued at $365,000 after buying an additional 18,111 shares during the last quarter. Lecap Asset Management Ltd. boosted its holdings in shares of Organon & Co. by 23.2% during the third quarter. Lecap Asset Management Ltd. now owns 15,565 shares of the company’s stock valued at $298,000 after acquiring an additional 2,934 shares during the period. Eastern Bank bought a new position in shares of Organon & Co. during the third quarter worth about $55,000. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Organon & Co. by 137.4% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 28,776 shares of the company’s stock worth $550,000 after acquiring an additional 16,657 shares during the period. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Organon & Co. Trading Down 0.3 %

NYSE:OGN opened at $17.16 on Monday. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 4.20, a PEG ratio of 0.77 and a beta of 0.84. The company has a debt-to-equity ratio of 60.05, a quick ratio of 1.17 and a current ratio of 1.64. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $23.10. The business has a fifty day moving average of $19.70 and a 200-day moving average of $20.12.

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

Organon & Co. Dividend Announcement

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