Foster & Motley Inc. Sells 1,227 Shares of Organon & Co. (NYSE:OGN)

Foster & Motley Inc. lowered its stake in Organon & Co. (NYSE:OGN) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,007 shares of the company’s stock after selling 1,227 shares during the period. Foster & Motley Inc.’s holdings in Organon & Co. were worth $517,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in OGN. Mercer Global Advisors Inc. ADV lifted its position in shares of Organon & Co. by 1.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,086 shares of the company’s stock worth $674,000 after purchasing an additional 546 shares during the period. Ballentine Partners LLC lifted its holdings in Organon & Co. by 3.0% in the second quarter. Ballentine Partners LLC now owns 19,105 shares of the company’s stock worth $395,000 after buying an additional 552 shares during the period. Atomi Financial Group Inc. lifted its holdings in Organon & Co. by 1.8% in the first quarter. Atomi Financial Group Inc. now owns 32,858 shares of the company’s stock worth $618,000 after buying an additional 593 shares during the period. Bill Few Associates Inc. boosted its position in Organon & Co. by 5.4% during the 2nd quarter. Bill Few Associates Inc. now owns 12,218 shares of the company’s stock valued at $253,000 after acquiring an additional 621 shares in the last quarter. Finally, Sippican Capital Advisors grew its holdings in shares of Organon & Co. by 4.3% during the 3rd quarter. Sippican Capital Advisors now owns 15,230 shares of the company’s stock worth $291,000 after acquiring an additional 627 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OGN. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lowered Organon & Co. from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $18.00 to $20.00 in a research report on Friday, September 6th.

Organon & Co. Price Performance

OGN stock opened at $16.12 on Friday. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.17 and a current ratio of 1.70. The firm has a 50 day moving average price of $19.01 and a 200-day moving average price of $20.08. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $23.10. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 3.13, a PEG ratio of 0.76 and a beta of 0.84.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts forecast that Organon & Co. will post 4.04 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 6.95%. The ex-dividend date of this dividend is Tuesday, November 12th. Organon & Co.’s payout ratio is 22.22%.

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.