Sound Shore Management Inc. CT Sells 154,065 Shares of Organon & Co. (NYSE:OGN)

Sound Shore Management Inc. CT lessened its position in Organon & Co. (NYSE:OGN) by 3.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,870,683 shares of the company’s stock after selling 154,065 shares during the period. Organon & Co. makes up 3.4% of Sound Shore Management Inc. CT’s investment portfolio, making the stock its 4th largest holding. Sound Shore Management Inc. CT’s holdings in Organon & Co. were worth $100,823,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in OGN. Norges Bank acquired a new stake in Organon & Co. in the fourth quarter valued at $26,321,000. Coldstream Capital Management Inc. purchased a new stake in shares of Organon & Co. during the 4th quarter worth approximately $237,000. Quest Partners LLC purchased a new position in Organon & Co. in the 4th quarter valued at approximately $168,000. Franklin Resources Inc. raised its holdings in Organon & Co. by 55.7% during the fourth quarter. Franklin Resources Inc. now owns 180,815 shares of the company’s stock worth $2,607,000 after purchasing an additional 64,683 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Organon & Co. by 92.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,321 shares of the company’s stock worth $62,000 after purchasing an additional 2,075 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.17.

Organon & Co. Price Performance

OGN stock opened at $19.49 on Friday. The stock’s 50 day moving average price is $21.04 and its 200 day moving average price is $20.07. The firm has a market cap of $5.01 billion, a P/E ratio of 4.77, a PEG ratio of 0.89 and a beta of 0.85. The company has a debt-to-equity ratio of 60.05, a quick ratio of 1.17 and a current ratio of 1.64. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $23.10.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.04. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the business earned $1.31 earnings per share. The business’s revenue was down .1% on a year-over-year basis. On average, sell-side analysts expect that Organon & Co. will post 4.14 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date of this dividend was Friday, August 16th. Organon & Co.’s dividend payout ratio is presently 27.38%.

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.