Denali Advisors LLC Lowers Stock Holdings in Organon & Co. (NYSE:OGN)

Denali Advisors LLC trimmed its stake in Organon & Co. (NYSE:OGN) by 80.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,430 shares of the company’s stock after selling 5,817 shares during the period. Denali Advisors LLC’s holdings in Organon & Co. were worth $27,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Nordea Investment Management AB lifted its position in shares of Organon & Co. by 2,016.0% in the 4th quarter. Nordea Investment Management AB now owns 3,128,810 shares of the company’s stock worth $44,648,000 after purchasing an additional 2,980,945 shares during the period. Norges Bank purchased a new stake in shares of Organon & Co. in the 4th quarter worth approximately $26,321,000. Sound Shore Management Inc. CT lifted its position in shares of Organon & Co. by 35.2% in the 4th quarter. Sound Shore Management Inc. CT now owns 4,675,137 shares of the company’s stock worth $67,415,000 after purchasing an additional 1,216,522 shares during the period. Allianz Asset Management GmbH lifted its position in shares of Organon & Co. by 156.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,900,554 shares of the company’s stock worth $27,406,000 after purchasing an additional 1,159,519 shares during the period. Finally, Private Management Group Inc. lifted its position in shares of Organon & Co. by 78.5% in the 4th quarter. Private Management Group Inc. now owns 2,335,238 shares of the company’s stock worth $33,674,000 after purchasing an additional 1,027,276 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on OGN shares. The Goldman Sachs Group boosted their price objective on shares of Organon & Co. from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd. Piper Sandler boosted their price objective on shares of Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th.

Organon & Co. Stock Performance

Organon & Co. stock traded up $0.19 during mid-day trading on Wednesday, reaching $20.31. 890,360 shares of the company traded hands, compared to its average volume of 2,368,489. The company has a debt-to-equity ratio of 181.35, a current ratio of 1.65 and a quick ratio of 1.15. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $24.08. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 5.02, a price-to-earnings-growth ratio of 0.90 and a beta of 0.85. The firm’s fifty day moving average is $20.55 and its two-hundred day moving average is $18.22.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.31. Organon & Co. had a net margin of 16.50% and a negative return on equity of 360.57%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.57 billion. On average, equities research analysts expect that Organon & Co. will post 4.3 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Monday, May 13th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, May 10th. This represents a $1.12 dividend on an annualized basis and a yield of 5.51%. Organon & Co.’s payout ratio is 27.38%.

Organon & Co. Company 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.