Foster & Motley Inc. Decreases Holdings in Organon & Co. (NYSE:OGN)

Foster & Motley Inc. lowered its position in Organon & Co. (NYSE:OGN) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,111 shares of the company’s stock after selling 3,860 shares during the period. Foster & Motley Inc.’s holdings in Organon & Co. were worth $477,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Invesco Ltd. grew its stake in shares of Organon & Co. by 23.7% during the 3rd quarter. Invesco Ltd. now owns 10,240,630 shares of the company’s stock valued at $177,777,000 after purchasing an additional 1,963,682 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Organon & Co. by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,280,300 shares of the company’s stock valued at $161,106,000 after purchasing an additional 436,034 shares during the last quarter. Nordea Investment Management AB grew its position in shares of 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 purchasing an additional 2,980,945 shares in the last quarter. LSV Asset Management increased its holdings in shares of Organon & Co. by 9.0% in the third quarter. LSV Asset Management now owns 3,031,852 shares of the company’s stock worth $52,633,000 after purchasing an additional 251,400 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Organon & Co. by 7.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,385,177 shares of the company’s stock worth $41,407,000 after buying an additional 173,977 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Performance

NYSE OGN opened at $18.71 on Thursday. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $24.79. The firm has a market capitalization of $4.78 billion, a P/E ratio of 4.68, a price-to-earnings-growth ratio of 0.88 and a beta of 0.83. The stock’s fifty day moving average is $18.14 and its two-hundred day moving average is $15.67.

Organon & Co. (NYSE:OGN) last posted its 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 during the quarter, compared to the consensus estimate of $1.55 billion. As a group, sell-side analysts forecast that Organon & Co. will post 4.08 EPS for the current year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, February 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 5.99%. The ex-dividend date was Friday, February 23rd. Organon & Co.’s payout ratio is 28.00%.

Insider Activity at Organon & Co.

In other Organon & Co. news, insider Kirke Weaver bought 2,720 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were purchased at an average cost of $18.36 per share, with a total value of $49,939.20. Following the purchase, the insider now directly owns 15,181 shares in the company, valued at $278,723.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

About Organon & Co.

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.