Profund Advisors LLC Decreases Stake in Organon & Co. (NYSE:OGN)

Profund Advisors LLC lessened its stake in Organon & Co. (NYSE:OGN) by 28.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,410 shares of the company’s stock after selling 11,794 shares during the quarter. Profund Advisors LLC’s holdings in Organon & Co. were worth $609,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Hancock Whitney Corp acquired a new position in Organon & Co. during the second quarter worth $881,000. Beddow Capital Management Inc. increased its holdings in Organon & Co. by 2.9% during the 2nd quarter. Beddow Capital Management Inc. now owns 220,900 shares of the company’s stock valued at $4,573,000 after acquiring an additional 6,200 shares in the last quarter. Sei Investments Co. raised its position in Organon & Co. by 3.0% during the second quarter. Sei Investments Co. now owns 588,118 shares of the company’s stock worth $12,174,000 after acquiring an additional 17,206 shares during the last quarter. AE Wealth Management LLC lifted its holdings in shares of Organon & Co. by 538.9% in the second quarter. AE Wealth Management LLC now owns 112,217 shares of the company’s stock valued at $2,323,000 after purchasing an additional 94,652 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Organon & Co. in the second quarter valued at approximately $683,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Stock Down 3.2 %

Shares of NYSE:OGN opened at $19.03 on Thursday. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $23.10. The stock’s 50-day moving average price is $20.91 and its two-hundred day moving average price is $20.13. The company has a current ratio of 1.64, a quick ratio of 1.17 and a debt-to-equity ratio of 60.05. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 4.65, a PEG ratio of 0.87 and a beta of 0.85.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.04. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.31 EPS. On average, research analysts forecast that Organon & Co. will post 4.14 EPS for the current year.

Organon & Co. Dividend Announcement

The company 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. The ex-dividend date was Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.89%. Organon & Co.’s dividend payout ratio (DPR) is 27.38%.

Analyst Upgrades and Downgrades

OGN has been the subject of several research reports. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. downgraded Organon & Co. from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $18.00 to $20.00 in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Organon & Co. presently has an average rating of “Hold” and an average target price of $21.00.

Organon & Co. Company 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.