Freedom Investment Management Inc. Sells 750 Shares of Organon & Co. (NYSE:OGN)

Freedom Investment Management Inc. lessened its holdings in Organon & Co. (NYSE:OGN) by 6.9% in the third quarter, HoldingsChannel reports. The fund owned 10,126 shares of the company’s stock after selling 750 shares during the period. Freedom Investment Management Inc.’s holdings in Organon & Co. were worth $194,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Versant Capital Management Inc raised its stake in Organon & Co. by 200.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock worth $25,000 after purchasing an additional 805 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Organon & Co. in the third quarter valued at approximately $25,000. William B. Walkup & Associates Inc. bought a new stake in shares of Organon & Co. in the second quarter valued at approximately $31,000. Atlas Capital Advisors LLC grew its position in 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 in the last quarter. Finally, Abich Financial Wealth Management LLC increased its stake in Organon & Co. by 5,646.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock worth $45,000 after acquiring an additional 2,315 shares during the period. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OGN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. downgraded Organon & Co. from a “neutral” rating to an “underweight” rating and upped their target price 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 report on Wednesday, September 18th.

Organon & Co. Stock Performance

NYSE:OGN opened at $15.87 on Monday. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $23.10. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The stock’s 50-day simple moving average is $17.18 and its 200 day simple moving average is $19.61. The firm has a market capitalization of $4.09 billion, a PE ratio of 3.15, a price-to-earnings-growth ratio of 0.74 and a beta of 0.84.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The company’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 posted $0.78 earnings per share. On average, analysts anticipate that Organon & Co. will post 3.89 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

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 paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.06%. Organon & Co.’s payout ratio is presently 22.22%.

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.