Ingalls & Snyder LLC Sells 3,131 Shares of Organon & Co. (NYSE:OGN)

Ingalls & Snyder LLC reduced its position in Organon & Co. (NYSE:OGNGet Rating) by 22.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,659 shares of the company’s stock after selling 3,131 shares during the quarter. Ingalls & Snyder LLC’s holdings in Organon & Co. were worth $325,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of OGN. Janus Henderson Group PLC lifted its position in Organon & Co. by 1,137.1% in the third quarter. Janus Henderson Group PLC now owns 5,281,621 shares of the company’s stock worth $173,184,000 after purchasing an additional 4,854,678 shares during the period. Marathon Asset Mgmt Ltd lifted its holdings in shares of Organon & Co. by 1,824.5% during the fourth quarter. Marathon Asset Mgmt Ltd now owns 2,604,291 shares of the company’s stock valued at $79,299,000 after acquiring an additional 2,468,966 shares during the period. Morgan Stanley bought a new position in shares of Organon & Co. during the second quarter valued at $62,479,000. Bank of New York Mellon Corp raised its holdings in shares of Organon & Co. by 25.0% in the third quarter. Bank of New York Mellon Corp now owns 5,298,787 shares of the company’s stock valued at $173,749,000 after buying an additional 1,058,652 shares during the last quarter. Finally, Sound Shore Management Inc CT raised its holdings in shares of Organon & Co. by 33.0% in the fourth quarter. Sound Shore Management Inc CT now owns 3,814,277 shares of the company’s stock valued at $116,145,000 after buying an additional 947,166 shares during the last quarter. 70.85% of the stock is owned by hedge funds and other institutional investors.

Shares of OGN stock opened at $35.96 on Thursday. Organon & Co. has a 52-week low of $27.25 and a 52-week high of $39.47. The stock has a market cap of $9.12 billion and a PE ratio of 7.05. The firm’s 50 day moving average price is $34.38 and its two-hundred day moving average price is $33.40.

Organon & Co. (NYSE:OGNGet Rating) last posted its earnings results on Thursday, May 5th. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.35. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.52 billion. Organon & Co. had a net margin of 20.42% and a negative return on equity of 103.33%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the business posted $1.56 earnings per share. As a group, analysts forecast that Organon & Co. will post 5.36 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Monday, May 16th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 13th. This represents a $1.12 annualized dividend and a yield of 3.11%. Organon & Co.’s dividend payout ratio (DPR) is presently 21.96%.

A number of research analysts recently issued reports on OGN shares. Zacks Investment Research raised Organon & Co. from a “sell” rating to a “hold” rating in a report on Saturday, May 7th. The Goldman Sachs Group started coverage on Organon & Co. in a report on Wednesday, April 27th. They issued a “buy” rating and a $40.00 price target for the company. Finally, Morgan Stanley cut their price target on Organon & Co. from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, April 6th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $39.89.

Organon & Co. Profile (Get Rating)

Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.

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Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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