Marble Harbor Investment Counsel LLC Sells 20,156 Shares of Organon & Co. (NYSE:OGN)

Marble Harbor Investment Counsel LLC trimmed its holdings in shares of Organon & Co. (NYSE:OGN) by 26.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 56,908 shares of the company’s stock after selling 20,156 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Organon & Co. were worth $1,178,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Thompson Siegel & Walmsley LLC grew its holdings in Organon & Co. by 3.4% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 2,125,922 shares of the company’s stock worth $44,007,000 after acquiring an additional 69,843 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Organon & Co. by 6.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 166,835 shares of the company’s stock worth $3,453,000 after purchasing an additional 9,755 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Organon & Co. by 1,480,160.0% in the 2nd quarter. Federated Hermes Inc. now owns 74,013 shares of the company’s stock worth $1,532,000 after purchasing an additional 74,008 shares during the last quarter. Meeder Advisory Services Inc. acquired a new stake in shares of Organon & Co. during the second quarter worth $225,000. Finally, Meeder Asset Management Inc. increased its holdings in Organon & Co. by 21.5% in the second quarter. Meeder Asset Management Inc. now owns 8,843 shares of the company’s stock valued at $183,000 after purchasing an additional 1,563 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut Organon & Co. from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $18.00 to $20.00 in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $22.17.

Organon & Co. Trading Up 0.9 %

NYSE OGN opened at $20.47 on Monday. Organon & Co. has a one year low of $10.84 and a one year high of $23.10. The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17. The firm has a market cap of $5.26 billion, a P/E ratio of 5.00, a P/E/G ratio of 0.89 and a beta of 0.85. The stock’s 50-day moving average is $21.02 and its 200-day moving average is $20.03.

Organon & Co. (NYSE:OGN) last posted its earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the business earned $1.31 EPS. Organon & Co.’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts anticipate that Organon & Co. will post 4.14 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 16th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.47%. Organon & Co.’s payout ratio is 27.38%.

Organon & Co. 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.