Organon & Co. (NYSE:OGN) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its position in shares of Organon & Co. (NYSE:OGN) by 36.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,939 shares of the company’s stock after selling 31,660 shares during the period. M&T Bank Corp’s holdings in Organon & Co. were worth $1,071,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. LSV Asset Management boosted its position in shares of Organon & Co. by 47.3% during the second quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock worth $136,843,000 after buying an additional 2,121,940 shares during the period. AQR Capital Management LLC boosted its position in Organon & Co. by 39.8% during the 2nd quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock worth $71,905,000 after acquiring an additional 988,336 shares during the period. Deprince Race & Zollo Inc. grew its stake in shares of Organon & Co. by 6.8% in the second quarter. Deprince Race & Zollo Inc. now owns 3,421,703 shares of the company’s stock worth $70,829,000 after purchasing an additional 216,907 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Organon & Co. by 35.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company’s stock worth $63,570,000 after purchasing an additional 875,128 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Organon & Co. by 23.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,407,915 shares of the company’s stock valued at $49,843,000 after purchasing an additional 463,216 shares during the period. Institutional investors own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on OGN. Evercore ISI raised shares of 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 increased their price objective for the company from $18.00 to $20.00 in a report on Friday, September 6th.

Organon & Co. Trading Down 0.3 %

Shares of Organon & Co. stock opened at $15.30 on Monday. The business has a fifty day simple moving average of $16.46 and a 200-day simple moving average of $19.17. Organon & Co. has a fifty-two week low of $12.62 and a fifty-two week high of $23.10. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 3.04, a price-to-earnings-growth ratio of 0.73 and a beta of 0.75. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.87 earnings per share 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 analyst estimates of $1.56 billion. Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. Organon & Co.’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. On average, equities analysts forecast that Organon & Co. will post 3.89 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.32%. The ex-dividend date was Tuesday, November 12th. Organon & Co.’s payout ratio is 22.22%.

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.