180 Wealth Advisors LLC Reduces Holdings in Organon & Co. (NYSE:OGN)

180 Wealth Advisors LLC lowered its position in shares of Organon & Co. (NYSE:OGN) by 6.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,996 shares of the company’s stock after selling 3,107 shares during the period. 180 Wealth Advisors LLC’s holdings in Organon & Co. were worth $898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Organon & Co. by 0.6% during the first quarter. Vanguard Group Inc. now owns 30,789,850 shares of the company’s stock worth $578,849,000 after acquiring an additional 192,613 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Organon & Co. by 10.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,211,008 shares of the company’s stock worth $147,243,000 after purchasing an additional 930,708 shares during the period. Sound Shore Management Inc. CT increased its position in shares of Organon & Co. by 35.2% during 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 last quarter. LSV Asset Management raised its holdings in Organon & Co. by 34.0% in the 1st quarter. LSV Asset Management now owns 4,488,828 shares of the company’s stock valued at $84,390,000 after buying an additional 1,139,249 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Organon & Co. by 26.9% in the 1st quarter. Nordea Investment Management AB now owns 3,970,328 shares of the company’s stock valued at $74,563,000 after buying an additional 841,518 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Up 1.3 %

Shares of OGN traded up $0.25 during mid-day trading on Thursday, hitting $20.22. 1,200,820 shares of the company’s stock were exchanged, compared to its average volume of 2,266,475. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $23.29. The stock’s 50-day moving average is $20.67 and its 200-day moving average is $19.40. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 4.88, a P/E/G ratio of 1.01 and a beta of 0.85. The company has a debt-to-equity ratio of 181.35, a quick ratio of 1.15 and a current ratio of 1.65.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.04. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Organon & Co. had a negative return on equity of 360.57% and a net margin of 16.50%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm earned $1.31 earnings per share. On average, sell-side analysts anticipate that Organon & Co. will post 4.25 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Friday, August 16th will be issued a $0.28 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.54%. Organon & Co.’s payout ratio is 27.38%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OGN. Piper Sandler lifted their price target on shares of Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. The Goldman Sachs Group lifted their target price on shares of Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, May 3rd.

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.