Organon & Co. (NYSE:OGN) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC reduced its stake in shares of Organon & Co. (NYSE:OGN) by 34.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,176 shares of the company’s stock after selling 29,724 shares during the quarter. Carret Asset Management LLC’s holdings in Organon & Co. were worth $824,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB grew its position in Organon & Co. by 2,016.0% during the fourth quarter. Nordea Investment Management AB now owns 3,128,810 shares of the company’s stock valued at $44,648,000 after buying an additional 2,980,945 shares during the period. Invesco Ltd. raised its holdings in Organon & Co. by 23.7% in the 3rd quarter. Invesco Ltd. now owns 10,240,630 shares of the company’s stock worth $177,777,000 after purchasing an additional 1,963,682 shares during the period. Private Management Group Inc. boosted its position in Organon & Co. by 78.5% during the fourth quarter. Private Management Group Inc. now owns 2,335,238 shares of the company’s stock worth $33,674,000 after purchasing an additional 1,027,276 shares in the last quarter. Sound Income Strategies LLC grew its stake in Organon & Co. by 140,626.7% in the 4th quarter. Sound Income Strategies LLC now owns 489,729 shares of the company’s stock valued at $7,062,000 after acquiring an additional 489,381 shares during the period. Finally, FMR LLC lifted its holdings in Organon & Co. by 28.3% during the third quarter. FMR LLC now owns 2,189,693 shares of the company’s stock valued at $38,013,000 after purchasing an additional 483,257 shares in the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Stock Down 1.7 %

Shares of Organon & Co. stock traded down $0.32 on Thursday, hitting $18.39. 420,419 shares of the company were exchanged, compared to its average volume of 2,706,453. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $24.79. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 4.68, a price-to-earnings-growth ratio of 0.88 and a beta of 0.83. The company has a 50-day moving average price of $18.14 and a 200 day moving average price of $15.67.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.14. Organon & Co. had a net margin of 16.33% and a negative return on equity of 212.00%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Research analysts forecast that Organon & Co. will post 4.08 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date was Friday, February 23rd. Organon & Co.’s dividend payout ratio is presently 28.00%.

Insiders Place Their Bets

In related news, insider Kirke Weaver acquired 2,720 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were purchased at an average cost of $18.36 per share, for a total transaction of $49,939.20. Following the acquisition, the insider now owns 15,181 shares in the company, valued at approximately $278,723.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised their price target on shares of Organon & Co. from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th.

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.