Organon & Co. $OGN Shares Sold by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC lowered its stake in shares of Organon & Co. (NYSE:OGN) by 49.4% in the third quarter, HoldingsChannel.com reports. The firm owned 444,172 shares of the company’s stock after selling 433,665 shares during the period. Philip James Wealth Mangement LLC’s holdings in Organon & Co. were worth $4,744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OGN. Hanson & Doremus Investment Management acquired a new position in Organon & Co. during the second quarter worth $26,000. Hantz Financial Services Inc. raised its holdings in shares of Organon & Co. by 293.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,674 shares of the company’s stock valued at $26,000 after buying an additional 1,995 shares during the period. SouthState Corp lifted its stake in Organon & Co. by 1,857.0% during the 2nd quarter. SouthState Corp now owns 3,914 shares of the company’s stock worth $38,000 after acquiring an additional 3,714 shares in the last quarter. Allworth Financial LP lifted its stake in Organon & Co. by 65.9% during the 2nd quarter. Allworth Financial LP now owns 4,501 shares of the company’s stock worth $44,000 after acquiring an additional 1,788 shares in the last quarter. Finally, Laurel Wealth Advisors LLC boosted its holdings in Organon & Co. by 868.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,937 shares of the company’s stock valued at $510,000 after acquiring an additional 4,427 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on OGN shares. Piper Sandler lowered shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research note on Monday, October 27th. JPMorgan Chase & Co. cut their target price on shares of Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 11th. Barclays began coverage on shares of Organon & Co. in a report on Tuesday, December 9th. They set an “underweight” rating and a $7.50 target price on the stock. Morgan Stanley decreased their price target on shares of Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 11th. Finally, Wall Street Zen raised Organon & Co. from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $8.38.

Organon & Co. Stock Down 1.3%

OGN stock opened at $8.03 on Friday. The company’s 50 day moving average price is $7.29 and its 200 day moving average price is $8.83. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 4.18, a PEG ratio of 1.67 and a beta of 0.58. Organon & Co. has a fifty-two week low of $6.18 and a fifty-two week high of $17.23. The company has a debt-to-equity ratio of 9.69, a quick ratio of 1.20 and a current ratio of 1.75.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Monday, November 10th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.93 by $0.08. Organon & Co. had a net margin of 7.95% and a return on equity of 143.47%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the business posted $1.38 EPS. On average, equities research analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 20th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, November 20th. Organon & Co.’s dividend payout ratio is 4.17%.

Organon & Co. Profile

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.