OVERSEA CHINESE BANKING Corp Ltd Reduces Stake in Organon & Co. (NYSE:OGN)

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in shares of Organon & Co. (NYSE:OGN) by 50.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 135,500 shares of the company’s stock after selling 135,500 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned 0.05% of Organon & Co. worth $2,592,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Oppenheimer & Co. Inc. raised its holdings in shares of Organon & Co. by 5.5% during the first quarter. Oppenheimer & Co. Inc. now owns 42,088 shares of the company’s stock worth $791,000 after purchasing an additional 2,186 shares during the last quarter. Sei Investments Co. raised its stake in shares of Organon & Co. by 31.1% during the 1st quarter. Sei Investments Co. now owns 570,912 shares of the company’s stock valued at $10,733,000 after buying an additional 135,373 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Organon & Co. by 20.5% in the 1st quarter. Russell Investments Group Ltd. now owns 1,634,478 shares of the company’s stock valued at $30,727,000 after buying an additional 278,146 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Organon & Co. by 3.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 277,929 shares of the company’s stock worth $5,225,000 after buying an additional 9,899 shares during the last quarter. Finally, SageView Advisory Group LLC purchased a new stake in shares of Organon & Co. in the first quarter worth about $184,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Price Performance

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

Organon & Co. (NYSE:OGN) last posted 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). The business 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 firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. Sell-side analysts predict that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

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

Wall Street Analyst Weigh In

OGN has been the subject of a number of analyst reports. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $18.00 to $20.00 in a research note on Friday, September 6th.

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.