Private Management Group Inc. Sells 3,003,139 Shares of Organon & Co. $OGN

Private Management Group Inc. trimmed its position in Organon & Co. (NYSE:OGN) by 80.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 739,022 shares of the company’s stock after selling 3,003,139 shares during the quarter. Private Management Group Inc.’s holdings in Organon & Co. were worth $10,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allied Private Wealth LLC acquired a new position in shares of Organon & Co. in the 2nd quarter valued at about $33,000. Nykredit A S acquired a new stake in Organon & Co. during the 2nd quarter worth approximately $76,000. GAMMA Investing LLC increased its position in Organon & Co. by 69.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,782 shares of the company’s stock worth $78,000 after purchasing an additional 2,376 shares in the last quarter. Wedmont Private Capital purchased a new position in Organon & Co. in the second quarter valued at approximately $136,000. Finally, Ethic Inc. purchased a new position in Organon & Co. in the third quarter valued at approximately $141,000. 77.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Organon & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $12.00.

Organon & Co. Stock Performance

Organon & Co. stock opened at $13.89 on Wednesday. The firm has a market capitalization of $3.65 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.27 and a beta of 1.53. Organon & Co. has a one year low of $5.69 and a one year high of $13.89. The stock’s 50 day moving average price is $13.75 and its 200 day moving average price is $11.64. The company has a debt-to-equity ratio of 7.11, a quick ratio of 1.51 and a current ratio of 2.02.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Friday, October 30th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.06. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.58 billion. Organon & Co. had a net margin of 3.49% and a return on equity of 82.06%. As a group, sell-side analysts expect that Organon & Co. will post 3.24 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Monday, November 9th will be paid a $0.02 dividend. The ex-dividend date is Monday, November 9th. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. Organon & Co.’s dividend payout ratio is 10.53%.

Organon & Co. Profile

Organon & Co. is a global health care company focused on women’s health, biosimilars and established medicines. It develops and markets prescription medicines and other health products for patients and health care professionals. Its women’s health portfolio includes contraceptive and fertility products, while its biosimilars business offers biologic medicines in areas such as immunology and oncology. The company also sells established medicines across several therapeutic areas, including cardiovascular health, respiratory conditions and dermatology.