Organon & Co. $OGN Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its holdings in Organon & Co. (NYSE:OGN) by 57.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390,232 shares of the company’s stock after selling 528,592 shares during the quarter. Squarepoint Ops LLC’s holdings in Organon & Co. were worth $5,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Carmignac Gestion bought a new stake in Organon & Co. during the second quarter worth approximately $6,074,000. Nykredit A S bought a new position in shares of Organon & Co. in the second quarter valued at $76,000. Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Organon & Co. during the 2nd quarter valued at $9,007,000. Groupe la Francaise acquired a new stake in shares of Organon & Co. during the 2nd quarter valued at $10,499,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Organon & Co. during the 2nd quarter worth $770,000. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Price Performance

OGN stock opened at $13.64 on Friday. Organon & Co. has a one year low of $5.69 and a one year high of $13.78. The firm has a 50-day moving average of $13.63 and a two-hundred day moving average of $11.53. The firm has a market capitalization of $3.58 billion, a PE ratio of 17.72, a P/E/G ratio of 1.26 and a beta of 1.52. The company has a current ratio of 1.95, a quick ratio of 1.44 and a debt-to-equity ratio of 8.43.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 14th were issued a dividend of $0.02 per share. The ex-dividend date was Friday, August 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.6%. Organon & Co.’s payout ratio is currently 10.39%.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Organon & Co. from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, August 3rd. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $11.40.

Organon & Co. Profile

Organon & Co is a global healthcare company focused on improving the health and well-being of women throughout their lives. Its women’s health portfolio includes contraceptive products such as Nexplanon and NuvaRing, as well as fertility treatments and medicines used in reproductive health.

The company also markets biosimilars and a portfolio of established medicines across areas including cardiovascular disease, respiratory conditions, dermatology, pain management and allergy. Its products are distributed in markets around the world, with a particular focus on expanding access to medicines in international and emerging markets.

Organon was established as an independent company through a spin-off from Merck & Co in June 2021.