OVERSEA CHINESE BANKING Corp Ltd Cuts Stock Holdings in Organon & Co. (NYSE:OGN)

OVERSEA CHINESE BANKING Corp Ltd lessened its position in Organon & Co. (NYSE:OGNFree Report) by 50.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 135,500 shares of the company’s stock after selling 135,500 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Organon & Co. were worth $2,592,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OGN. Versor Investments LP raised its stake in Organon & Co. by 47.0% in the 3rd quarter. Versor Investments LP now owns 47,026 shares of the company’s stock valued at $900,000 after purchasing an additional 15,026 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Organon & Co. by 47.4% during the third quarter. Los Angeles Capital Management LLC now owns 259,831 shares of the company’s stock worth $4,971,000 after buying an additional 83,510 shares in the last quarter. River Global Investors LLP grew its holdings in shares of Organon & Co. by 4.8% during the third quarter. River Global Investors LLP now owns 58,775 shares of the company’s stock worth $1,124,000 after buying an additional 2,711 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Organon & Co. by 43.4% in the third quarter. Crossmark Global Holdings Inc. now owns 20,157 shares of the company’s stock valued at $385,000 after buying an additional 6,096 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV acquired a new position in Organon & Co. during the third quarter worth about $743,000. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Trading Down 1.4 %

Shares of OGN opened at $15.58 on Wednesday. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $23.10. The firm has a market capitalization of $4.01 billion, a P/E ratio of 3.09, a P/E/G ratio of 0.75 and a beta of 0.84. The firm has a 50-day moving average price of $18.50 and a 200 day moving average price of $20.02. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGNGet Free Report) last posted 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 firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the company earned $0.78 EPS. Sell-side analysts forecast that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 7.19%. Organon & Co.’s dividend payout ratio (DPR) is 22.22%.

Analysts Set New Price Targets

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

View Our Latest Stock Analysis on OGN

About Organon & Co.

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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