Gilman Hill Asset Management LLC Decreases Stock Position in Organon & Co. (NYSE:OGN)

Gilman Hill Asset Management LLC decreased its holdings in Organon & Co. (NYSE:OGN) by 3.4% in the 4th quarter, HoldingsChannel reports. The firm owned 628,663 shares of the company’s stock after selling 22,186 shares during the quarter. Organon & Co. accounts for approximately 1.6% of Gilman Hill Asset Management LLC’s portfolio, making the stock its 10th largest position. Gilman Hill Asset Management LLC’s holdings in Organon & Co. were worth $9,380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of OGN. Prospera Private Wealth LLC acquired a new position in shares of Organon & Co. during the third quarter worth approximately $25,000. Horizon Bancorp Inc. IN lifted its holdings in Organon & Co. by 2,401.5% during the 4th quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after buying an additional 1,585 shares in the last quarter. William B. Walkup & Associates Inc. bought a new position in Organon & Co. in the 2nd quarter valued at $31,000. Versant Capital Management Inc increased its stake in shares of Organon & Co. by 92.2% in the 4th quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock valued at $41,000 after buying an additional 1,324 shares during the period. Finally, Abich Financial Wealth Management LLC raised its position in shares of Organon & Co. by 5,646.3% during the third 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 during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Price Performance

OGN opened at $15.77 on Monday. The company has a fifty day moving average price of $15.32 and a two-hundred day moving average price of $18.21. The firm has a market capitalization of $4.06 billion, a PE ratio of 3.13, a P/E/G ratio of 0.86 and a beta of 0.76. Organon & Co. has a 52 week low of $13.87 and a 52 week high of $23.10. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70.

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

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were given a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.10%. Organon & Co.’s dividend payout ratio is 22.22%.

Wall Street Analysts Forecast Growth

Separately, TD Cowen upgraded Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.33.

Organon & Co. Profile

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.