Organon & Co. (NYSE:OGN) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its stake in Organon & Co. (NYSE:OGN) by 4.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 93,432 shares of the company’s stock after selling 4,654 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Organon & Co. were worth $1,787,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new position in shares of Organon & Co. during the third quarter worth $25,000. William B. Walkup & Associates Inc. purchased a new position in Organon & Co. during the 2nd quarter valued at about $31,000. Abich Financial Wealth Management LLC increased its stake in 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 worth $45,000 after purchasing an additional 2,315 shares during the period. Atlas Capital Advisors LLC lifted 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 purchasing an additional 2,147 shares in the last quarter. Finally, Trust Co. of Vermont lifted its position in shares of Organon & Co. by 109.4% during the third quarter. Trust Co. of Vermont now owns 2,626 shares of the company’s stock worth $50,000 after purchasing an additional 1,372 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Stock Down 1.8 %

Shares of Organon & Co. stock opened at $14.51 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a 52-week low of $13.14 and a 52-week high of $23.10. The company has a market capitalization of $3.74 billion, a P/E ratio of 2.88, a P/E/G ratio of 0.81 and a beta of 0.75. The company has a 50 day moving average of $16.25 and a 200 day moving average of $19.05.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.03). The firm had revenue of $1.58 billion for 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 period last year, the firm posted $0.78 earnings per share. As a group, research analysts forecast that Organon & Co. will post 3.89 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were issued a $0.28 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.72%. Organon & Co.’s payout ratio is currently 22.22%.

Analyst Ratings Changes

Several brokerages recently weighed in on OGN. JPMorgan Chase & Co. downgraded shares of Organon & Co. from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $18.00 to $20.00 in a research note on Friday, September 6th. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th.

Organon & Co. 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.