Sequoia Financial Advisors LLC Sells 15,142 Shares of Organon & Co. (NYSE:OGN)

Sequoia Financial Advisors LLC cut its holdings in Organon & Co. (NYSE:OGN) by 52.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,634 shares of the company’s stock after selling 15,142 shares during the period. Sequoia Financial Advisors LLC’s holdings in Organon & Co. were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OGN. Barclays PLC lifted its stake in Organon & Co. by 238.0% in the third quarter. Barclays PLC now owns 119,483 shares of the company’s stock valued at $2,285,000 after buying an additional 84,136 shares during the period. Weiss Asset Management LP acquired a new position in shares of Organon & Co. during the 3rd quarter valued at $32,966,000. Cerity Partners LLC boosted its stake in Organon & Co. by 94.0% during the third quarter. Cerity Partners LLC now owns 667,340 shares of the company’s stock worth $12,766,000 after acquiring an additional 323,308 shares in the last quarter. Foundry Partners LLC acquired a new stake in Organon & Co. in the third quarter worth $7,642,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Organon & Co. in the fourth quarter valued at $2,263,000. 77.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

OGN has been the subject of several research reports. TD Cowen upgraded Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Barclays reduced their price objective on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, Morgan Stanley lowered their target price on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.80.

Organon & Co. Stock Performance

Shares of OGN opened at $15.62 on Friday. The firm has a market capitalization of $4.03 billion, a P/E ratio of 4.69, a P/E/G ratio of 0.90 and a beta of 0.76. Organon & Co. has a 52 week low of $13.87 and a 52 week high of $23.10. The stock has a 50 day moving average price of $15.45 and a two-hundred day moving average price of $16.54. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. Equities analysts forecast that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s payout ratio is currently 33.63%.

Organon & Co. Company Profile

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.