Organon & Co. $OGN Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its position in Organon & Co. (NYSE:OGN) by 40.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 108,059 shares of the company’s stock after selling 72,604 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Organon & Co. were worth $1,480,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Allied Private Wealth LLC purchased a new stake in Organon & Co. during the 2nd quarter worth about $33,000. WNY Asset Management LLC purchased a new stake in Organon & Co. during the first quarter worth approximately $64,000. Wealth Effects LLC acquired a new position in Organon & Co. in the first quarter valued at $75,000. Nykredit A S purchased a new stake in Organon & Co. in the second quarter valued at approximately $76,000. Finally, GAMMA Investing LLC increased its holdings in shares of Organon & Co. by 69.8% in the 2nd quarter. GAMMA Investing LLC now owns 5,782 shares of the company’s stock valued at $78,000 after acquiring an additional 2,376 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Up 0.4%

OGN stock opened at $13.80 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.44 and a debt-to-equity ratio of 8.43. The firm has a 50 day simple moving average of $13.71 and a 200-day simple moving average of $12.50. Organon & Co. has a twelve month low of $5.69 and a twelve month high of $13.83. The company has a market capitalization of $3.63 billion, a P/E ratio of 17.93, a PEG ratio of 1.27 and a beta of 1.55.

Organon & Co. Dividend Announcement

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

Analysts Set New Price Targets

Separately, Weiss Ratings raised Organon & Co. from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $11.40.

About Organon & Co.

Organon & Co is a global healthcare company focused primarily on women’s health, biosimilars and a portfolio of established medicines. The company develops, manufactures and commercializes prescription products designed to address a range of health needs, with an emphasis on expanding access to treatments in markets around the world.

Its women’s health portfolio includes contraceptive products such as Nexplanon and NuvaRing, as well as medicines used in areas including fertility and reproductive health.