National Bank of Canada FI Sells 1,309 Shares of Organon & Co. (NYSE:OGN)

National Bank of Canada FI lessened its position in shares of Organon & Co. (NYSE:OGN) by 23.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,265 shares of the company’s stock after selling 1,309 shares during the period. National Bank of Canada FI’s holdings in Organon & Co. were worth $82,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kovitz Investment Group Partners LLC grew its position in Organon & Co. by 93.4% during the third quarter. Kovitz Investment Group Partners LLC now owns 23,027 shares of the company’s stock valued at $441,000 after acquiring an additional 11,119 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Organon & Co. during the 3rd quarter valued at $437,000. Weiss Asset Management LP purchased a new position in Organon & Co. in the 3rd quarter worth $32,966,000. Stifel Financial Corp boosted its position in Organon & Co. by 13.6% during the third quarter. Stifel Financial Corp now owns 236,081 shares of the company’s stock valued at $4,516,000 after buying an additional 28,344 shares during the period. Finally, Systematic Financial Management LP grew its stake in shares of Organon & Co. by 5,097.3% during the third quarter. Systematic Financial Management LP now owns 37,940 shares of the company’s stock valued at $726,000 after buying an additional 37,210 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Performance

Organon & Co. stock opened at $14.77 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The firm has a market cap of $3.80 billion, a P/E ratio of 2.93, a P/E/G ratio of 0.81 and a beta of 0.75. Organon & Co. has a 1-year low of $12.87 and a 1-year high of $23.10. The firm has a 50-day moving average of $16.33 and a 200-day moving average of $19.08.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data 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). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business posted $0.78 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Sell-side analysts expect that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.58%. The ex-dividend date was Tuesday, November 12th. Organon & Co.’s payout ratio is currently 22.22%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OGN. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. downgraded Organon & Co. from a “neutral” rating to an “underweight” rating and boosted their price objective for the company 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.