Royce & Associates LP Reduces Position in Organon & Co. $OGN

Royce & Associates LP decreased its holdings in Organon & Co. (NYSE:OGN) by 92.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,505 shares of the company’s stock after selling 696,419 shares during the quarter. Royce & Associates LP’s holdings in Organon & Co. were worth $603,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Sector Gamma AS acquired a new stake in shares of Organon & Co. in the 3rd quarter valued at approximately $5,807,000. Vanguard Group Inc. grew its holdings in Organon & Co. by 11.3% during the third quarter. Vanguard Group Inc. now owns 35,928,403 shares of the company’s stock worth $383,715,000 after acquiring an additional 3,650,860 shares during the period. Coldstream Capital Management Inc. raised its position in Organon & Co. by 61.6% in the second quarter. Coldstream Capital Management Inc. now owns 22,686 shares of the company’s stock worth $220,000 after acquiring an additional 8,644 shares in the last quarter. American Century Companies Inc. raised its position in Organon & Co. by 1,205.1% in the second quarter. American Century Companies Inc. now owns 522,013 shares of the company’s stock worth $5,053,000 after acquiring an additional 482,016 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Organon & Co. in the third quarter valued at $2,000,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analyst Ratings Changes

OGN has been the subject of a number of research reports. Wall Street Zen downgraded shares of Organon & Co. from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Barclays boosted their target price on Organon & Co. from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 24th. Zacks Research cut Organon & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. Morgan Stanley decreased their price objective on shares of Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. lowered their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Organon & Co. presently has a consensus rating of “Reduce” and a consensus target price of $8.50.

Organon & Co. Price Performance

Shares of Organon & Co. stock opened at $6.58 on Friday. The business’s fifty day moving average price is $7.97 and its 200 day moving average price is $8.39. Organon & Co. has a twelve month low of $6.18 and a twelve month high of $16.08. The company has a current ratio of 1.82, a quick ratio of 1.23 and a debt-to-equity ratio of 11.47. The stock has a market capitalization of $1.71 billion, a P/E ratio of 9.27, a PEG ratio of 0.62 and a beta of 0.60.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.10). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.52 billion. Organon & Co. had a net margin of 3.01% and a return on equity of 122.01%. The firm’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 earnings per share. As a group, research analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Monday, February 23rd will be given a $0.02 dividend. The ex-dividend date is Monday, February 23rd. This represents a $0.08 annualized dividend and a dividend yield of 1.2%. Organon & Co.’s dividend payout ratio (DPR) is presently 11.27%.

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.