Organon & Co. (NYSE:OGN) Stock Position Cut by Public Sector Pension Investment Board

Public Sector Pension Investment Board lessened its stake in Organon & Co. (NYSE:OGN) by 3.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 546,266 shares of the company’s stock after selling 19,600 shares during the quarter. Public Sector Pension Investment Board’s holdings in Organon & Co. were worth $10,450,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Organon & Co. by 8.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,506 shares of the company’s stock valued at $1,062,000 after purchasing an additional 4,298 shares in the last quarter. Bridgewater Associates LP bought a new position in shares of Organon & Co. during the 3rd quarter valued at about $3,887,000. Quantbot Technologies LP bought a new position in shares of Organon & Co. during the 3rd quarter valued at about $113,000. D.A. Davidson & CO. boosted its position in shares of Organon & Co. by 1.3% during the 3rd quarter. D.A. Davidson & CO. now owns 122,147 shares of the company’s stock valued at $2,337,000 after purchasing an additional 1,529 shares in the last quarter. Finally, Hancock Whitney Corp boosted its position in shares of Organon & Co. by 10.9% during the 3rd quarter. Hancock Whitney Corp now owns 47,182 shares of the company’s stock valued at $903,000 after purchasing an additional 4,637 shares in the last quarter. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Performance

Shares of OGN opened at $15.98 on Friday. Organon & Co. has a one year low of $10.84 and a one year high of $23.10. The company has a 50-day moving average of $17.34 and a two-hundred day moving average of $19.68. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 3.17, a PEG ratio of 0.75 and a beta of 0.84. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21.

Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, October 31st. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.03). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities research analysts expect that Organon & Co. will post 3.89 earnings per share for the current year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.01%. The ex-dividend date of this dividend is Tuesday, November 12th. Organon & Co.’s dividend payout ratio (DPR) is 22.22%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Organon & Co. from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $18.00 to $20.00 in a research report on Friday, September 6th. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th.

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.