Magnetar Financial LLC Lowers Position in Organon & Co. (NYSE:OGN)

Magnetar Financial LLC trimmed its position in shares of Organon & Co. (NYSE:OGN) by 66.9% during the second quarter, Holdings Channel.com reports. The fund owned 902,825 shares of the company’s stock after selling 1,825,758 shares during the quarter. Magnetar Financial LLC’s holdings in Organon & Co. were worth $18,688,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. LSV Asset Management increased its stake in Organon & Co. by 47.3% in the 2nd quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock valued at $136,843,000 after buying an additional 2,121,940 shares during the last quarter. Norges Bank purchased a new stake in shares of Organon & Co. during the fourth quarter valued at approximately $26,321,000. Wedge Capital Management L L P NC bought a new stake in Organon & Co. during the second quarter worth $33,573,000. Allianz Asset Management GmbH lifted its holdings in Organon & Co. by 156.5% during the fourth quarter. Allianz Asset Management GmbH now owns 1,900,554 shares of the company’s stock worth $27,406,000 after acquiring an additional 1,159,519 shares during the period. Finally, Kahn Brothers Group Inc. boosted its position in Organon & Co. by 3,242.4% in the first quarter. Kahn Brothers Group Inc. now owns 1,180,204 shares of the company’s stock worth $22,188,000 after purchasing an additional 1,144,894 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Trading Down 3.4 %

Shares of OGN stock opened at $19.49 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.64 and a debt-to-equity ratio of 60.05. 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 50 day moving average of $21.00 and a 200-day moving average of $20.12. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $23.10.

Organon & Co. (NYSE:OGN) last released its earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the business posted $1.31 earnings per share. Sell-side analysts anticipate that Organon & Co. will post 4.14 earnings per share for the current year.

Organon & Co. Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered Organon & Co. from a “neutral” rating to an “underweight” rating and raised their target price for the company from $18.00 to $20.00 in a research report on Friday, September 6th.

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.