Organon & Co. (NYSE:OGN) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC decreased its holdings in shares of Organon & Co. (NYSE:OGN) by 19.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,020 shares of the company’s stock after selling 4,055 shares during the period. Highland Capital Management LLC’s holdings in Organon & Co. were worth $245,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Kahn Brothers Group Inc. raised its position in Organon & Co. by 0.6% during the 4th quarter. Kahn Brothers Group Inc. now owns 62,634 shares of the company’s stock worth $1,749,000 after buying an additional 366 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Organon & Co. by 5.2% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,114 shares of the company’s stock valued at $213,000 after buying an additional 449 shares during the period. Fairfield Bush & CO. raised its position in Organon & Co. by 3.0% in the first quarter. Fairfield Bush & CO. now owns 16,302 shares of the company’s stock worth $569,000 after acquiring an additional 481 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in Organon & Co. by 3.7% in the first quarter. Cresset Asset Management LLC now owns 13,969 shares of the company’s stock valued at $488,000 after acquiring an additional 493 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of Organon & Co. by 0.7% during the 1st quarter. Capital Research Global Investors now owns 71,903 shares of the company’s stock worth $2,512,000 after purchasing an additional 513 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Insider Activity at Organon & Co.

In related news, insider Kirke Weaver acquired 2,720 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $18.36 per share, with a total value of $49,939.20. Following the completion of the purchase, the insider now directly owns 15,181 shares in the company, valued at $278,723.16. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group increased their price target on shares of Organon & Co. from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th.

Organon & Co. Stock Performance

Shares of OGN stock opened at $18.45 on Thursday. The stock has a market cap of $4.72 billion, a PE ratio of 4.61, a P/E/G ratio of 0.86 and a beta of 0.81. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $24.79. The stock has a fifty day moving average price of $17.47 and a 200 day moving average price of $15.65.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.14. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. As a group, equities research analysts predict that Organon & Co. will post 4.08 earnings per share for the current year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, February 26th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.12 annualized dividend and a dividend yield of 6.07%. Organon & Co.’s dividend payout ratio is currently 28.00%.

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.