Wedmont Private Capital Sells 1,215 Shares of Organon & Co. (NYSE:OGN)

Wedmont Private Capital reduced its holdings in Organon & Co. (NYSE:OGN) by 6.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,167 shares of the company’s stock after selling 1,215 shares during the quarter. Wedmont Private Capital’s holdings in Organon & Co. were worth $329,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of OGN. Versant Capital Management Inc increased its holdings in shares of Organon & Co. by 200.2% in the second quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock worth $25,000 after acquiring an additional 805 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new position in shares of Organon & Co. during the second quarter worth about $31,000. Fidelis Capital Partners LLC acquired a new position in shares of Organon & Co. during the first quarter worth about $43,000. Tompkins Financial Corp boosted its position in shares of Organon & Co. by 450.7% during the first quarter. Tompkins Financial Corp now owns 2,412 shares of the company’s stock worth $45,000 after buying an additional 1,974 shares during the period. Finally, Atlas Capital Advisors LLC boosted its position in shares of Organon & Co. by 2,236.5% during the second quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock worth $46,000 after buying an additional 2,147 shares during the period. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Stock Performance

Shares of NYSE OGN opened at $18.00 on Friday. The stock has a 50 day moving average price of $20.15 and a 200 day moving average price of $20.16. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $23.10. The company has a debt-to-equity ratio of 60.05, a quick ratio of 1.17 and a current ratio of 1.64. The stock has a market capitalization of $4.63 billion, a PE ratio of 4.63, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.08 by $0.04. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the firm posted $1.31 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. Analysts predict that Organon & Co. will post 4.15 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 16th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.12 annualized dividend and a yield of 6.22%. Organon & Co.’s dividend payout ratio (DPR) is presently 28.79%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. cut Organon & Co. from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $18.00 to $20.00 in a research report on Friday, September 6th.

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.