Organon & Co. (NYSE:OGN) Stock Position Trimmed by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in shares of Organon & Co. (NYSE:OGN) by 58.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,553 shares of the company’s stock after selling 84,777 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Organon & Co. were worth $1,233,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc raised its position in shares of Organon & Co. by 200.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock worth $25,000 after buying an additional 805 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Organon & Co. during the 1st quarter worth about $43,000. Tompkins Financial Corp raised its position in shares of Organon & Co. by 450.7% during the 1st quarter. Tompkins Financial Corp now owns 2,412 shares of the company’s stock worth $45,000 after buying an additional 1,974 shares in the last quarter. Atlas Capital Advisors LLC raised its position in shares of Organon & Co. by 2,236.5% during the 2nd quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock worth $46,000 after buying an additional 2,147 shares in the last quarter. Finally, Hexagon Capital Partners LLC raised its position in shares of Organon & Co. by 123.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,628 shares of the company’s stock worth $49,000 after buying an additional 1,454 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on OGN. JPMorgan Chase & Co. downgraded shares of Organon & Co. from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $18.00 to $20.00 in a research report on Friday, September 6th. Evercore ISI raised shares of Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th.

Organon & Co. Stock Performance

Shares of OGN opened at $18.02 on Friday. The firm’s 50 day moving average is $20.15 and its 200-day moving average is $20.15. The stock has a market capitalization of $4.64 billion, a P/E ratio of 4.63, a P/E/G ratio of 0.79 and a beta of 0.84. The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17. 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 for the quarter, topping the consensus estimate of $1.08 by $0.04. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted $1.31 earnings per share. Equities research analysts anticipate that Organon & Co. will post 4.15 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 6.22%. The ex-dividend date of this dividend was Friday, August 16th. Organon & Co.’s dividend payout ratio (DPR) is currently 28.79%.

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.