Organon & Co. (NYSE:OGN) Stock Position Reduced by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its stake in Organon & Co. (NYSE:OGN) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,758,307 shares of the company’s stock after selling 332,614 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 3.79% of Organon & Co. worth $186,676,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of OGN. Thompson Siegel & Walmsley LLC raised its holdings in shares of Organon & Co. by 6.4% during the third quarter. Thompson Siegel & Walmsley LLC now owns 2,262,379 shares of the company’s stock worth $43,279,000 after acquiring an additional 136,457 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Organon & Co. during the 3rd quarter worth about $7,642,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Organon & Co. during the 3rd quarter valued at about $420,000. Advisors Asset Management Inc. grew its stake in shares of Organon & Co. by 3.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 660,564 shares of the company’s stock valued at $12,637,000 after buying an additional 19,658 shares in the last quarter. Finally, Commerce Bank increased its holdings in Organon & Co. by 5.5% in the third quarter. Commerce Bank now owns 12,168 shares of the company’s stock worth $233,000 after buying an additional 637 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Stock Up 2.6 %

OGN opened at $15.28 on Friday. The firm has a market cap of $3.94 billion, a P/E ratio of 3.03, a price-to-earnings-growth ratio of 0.70 and a beta of 0.84. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The business has a 50 day moving average price of $17.61 and a 200 day moving average price of $19.78. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $23.10.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. Organon & Co.’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Research analysts forecast that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 7.33%. The ex-dividend date of this dividend is Tuesday, November 12th. Organon & Co.’s dividend payout ratio is currently 22.22%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on OGN. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lowered shares of Organon & Co. from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $18.00 to $20.00 in a research note on Friday, September 6th.

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.