Heritage Investors Management Corp Cuts Position in Organon & Co. (NYSE:OGN)

Heritage Investors Management Corp lowered its holdings in shares of Organon & Co. (NYSE:OGN) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,426 shares of the company’s stock after selling 2,176 shares during the quarter. Heritage Investors Management Corp’s holdings in Organon & Co. were worth $943,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its stake in Organon & Co. by 8.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 24,159 shares of the company’s stock valued at $419,000 after acquiring an additional 1,838 shares during the period. Raymond James & Associates grew its position in shares of Organon & Co. by 0.7% in the third quarter. Raymond James & Associates now owns 345,810 shares of the company’s stock valued at $6,003,000 after purchasing an additional 2,354 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Organon & Co. by 13.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 82,800 shares of the company’s stock worth $1,437,000 after purchasing an additional 9,956 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Organon & Co. by 3.7% during the third quarter. New York State Teachers Retirement System now owns 289,905 shares of the company’s stock worth $5,033,000 after purchasing an additional 10,281 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Organon & Co. by 14.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,638 shares of the company’s stock worth $827,000 after purchasing an additional 6,046 shares during the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on OGN shares. Piper Sandler boosted their price objective on Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. The Goldman Sachs Group upped their price objective on Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, May 3rd.

Organon & Co. Trading Up 0.7 %

Shares of Organon & Co. stock traded up $0.15 on Thursday, hitting $20.52. The stock had a trading volume of 2,023,524 shares, compared to its average volume of 2,713,194. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of 5.01, a P/E/G ratio of 0.88 and a beta of 0.81. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $24.08. The company’s 50 day moving average price is $18.35 and its 200 day moving average price is $15.86.

Organon & Co. (NYSE:OGN) last released its earnings results on Thursday, February 15th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.14. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. Organon & Co. had a negative return on equity of 259.73% and a net margin of 16.50%. Analysts predict that Organon & Co. will post 4.1 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Monday, May 13th will be paid a $0.28 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.12 dividend on an annualized basis and a yield of 5.46%. Organon & Co.’s payout ratio is 27.38%.

Insider Transactions at Organon & Co.

In other news, insider Kirke Weaver acquired 2,720 shares of Organon & Co. 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 owns 15,181 shares of the company’s stock, valued at approximately $278,723.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.17% of the company’s stock.

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.