OVERSEA CHINESE BANKING Corp Ltd Sells 75,500 Shares of Organon & Co. (NYSE:OGN)

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in Organon & Co. (NYSE:OGN) by 55.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,000 shares of the company’s stock after selling 75,500 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Organon & Co. were worth $895,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of OGN. Victory Capital Management Inc. boosted its stake in shares of Organon & Co. by 127.3% in the 3rd quarter. Victory Capital Management Inc. now owns 183,298 shares of the company’s stock valued at $3,506,000 after purchasing an additional 102,663 shares during the last quarter. KBC Group NV boosted its stake in shares of Organon & Co. by 19.5% in the 3rd quarter. KBC Group NV now owns 7,744 shares of the company’s stock valued at $148,000 after purchasing an additional 1,263 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Organon & Co. by 7.9% in the 3rd quarter. Natixis Advisors LLC now owns 48,215 shares of the company’s stock valued at $922,000 after purchasing an additional 3,520 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Organon & Co. by 286.7% in the 3rd quarter. Quest Partners LLC now owns 38,941 shares of the company’s stock valued at $745,000 after purchasing an additional 28,871 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in shares of Organon & Co. in the 3rd quarter valued at about $25,000. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Performance

Shares of OGN stock opened at $15.81 on Thursday. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The company has a market capitalization of $4.08 billion, a P/E ratio of 4.75, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. The company’s 50 day moving average price is $15.46 and its two-hundred day moving average price is $16.54. Organon & Co. has a 52 week low of $13.87 and a 52 week high of $23.10.

Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. On average, analysts expect that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were issued a $0.28 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.09%. Organon & Co.’s dividend payout ratio (DPR) is presently 33.63%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on OGN. TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. Morgan Stanley cut their price target on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Finally, Barclays cut their price target on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Organon & Co. currently has an average rating of “Hold” and an average price target of $20.80.

Organon & Co. Profile

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.