PNC Financial Services Group Inc. Sells 6,517 Shares of Organon & Co. (NYSE:OGN)

PNC Financial Services Group Inc. trimmed its holdings in Organon & Co. (NYSE:OGN) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,662 shares of the company’s stock after selling 6,517 shares during the period. PNC Financial Services Group Inc. owned about 0.09% of Organon & Co. worth $4,279,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake 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 valued at $25,000 after buying an additional 805 shares in the last quarter. William B. Walkup & Associates Inc. bought a new position in shares of Organon & Co. in the second quarter valued at $31,000. Atlas Capital Advisors LLC lifted its stake in shares of Organon & Co. by 2,236.5% in the second quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock valued at $46,000 after buying an additional 2,147 shares in the last quarter. Abich Financial Wealth Management LLC lifted its position in shares of Organon & Co. by 5,646.3% during the third quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after purchasing an additional 2,315 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Organon & Co. during the second quarter valued at about $54,000. 77.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Organon & Co. Stock Performance

NYSE OGN opened at $15.28 on Monday. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $23.10. The company has a 50-day simple moving average of $17.61 and a 200 day simple moving average of $19.77. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The company has a market capitalization of $3.94 billion, a PE ratio of 3.03, a price-to-earnings-growth ratio of 0.70 and a beta of 0.84.

Organon & Co. (NYSE:OGN) last posted its earnings results on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.03). The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. Organon & Co.’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. On average, research analysts predict that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 7.33%. Organon & Co.’s payout ratio is presently 22.22%.

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.