Orion Portfolio Solutions LLC Sells 20,010 Shares of Organon & Co. (NYSE:OGN)

Orion Portfolio Solutions LLC reduced its holdings in Organon & Co. (NYSE:OGN) by 65.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 10,660 shares of the company’s stock after selling 20,010 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Organon & Co. were worth $204,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in OGN. Prospera Private Wealth LLC bought a new position in Organon & Co. in the third quarter worth about $25,000. William B. Walkup & Associates Inc. bought a new position in shares of Organon & Co. in the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC raised its position in shares of Organon & Co. by 5,646.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock worth $45,000 after acquiring an additional 2,315 shares in the last quarter. Atlas Capital Advisors LLC lifted its stake in shares of Organon & Co. by 2,236.5% in the 2nd quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock valued at $46,000 after purchasing an additional 2,147 shares during the period. Finally, Trust Co. of Vermont boosted 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 valued at $50,000 after purchasing an additional 1,372 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a report on Wednesday, September 18th. 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 report on Friday, September 6th.

Organon & Co. Stock Performance

Organon & Co. stock opened at $14.58 on Friday. Organon & Co. has a twelve month low of $13.40 and a twelve month high of $23.10. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The company has a market capitalization of $3.75 billion, a P/E ratio of 2.89, a PEG ratio of 0.81 and a beta of 0.75. The stock’s 50 day moving average is $16.12 and its 200 day moving average is $18.97.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.03). The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. Organon & Co.’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.78 earnings per share. On average, equities research analysts predict that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were paid a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 7.68%. Organon & Co.’s dividend payout ratio is presently 22.22%.

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.