Massachusetts Financial Services Co. MA Sells 332,614 Shares of Organon & Co. (NYSE:OGN)

Massachusetts Financial Services Co. MA lowered its stake in shares of Organon & Co. (NYSE:OGN) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,758,307 shares of the company’s stock after selling 332,614 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Organon & Co. were worth $186,676,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of OGN. Vanguard Group Inc. increased its holdings in shares of Organon & Co. by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 30,789,850 shares of the company’s stock worth $578,849,000 after purchasing an additional 192,613 shares during the period. LSV Asset Management increased its stake in Organon & Co. by 47.3% during the second quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock valued at $136,843,000 after acquiring an additional 2,121,940 shares during the period. AQR Capital Management LLC raised its holdings in Organon & Co. by 39.8% in the 2nd quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock valued at $71,905,000 after acquiring an additional 988,336 shares in the last quarter. Deprince Race & Zollo Inc. lifted its position in shares of Organon & Co. by 6.8% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,421,703 shares of the company’s stock worth $70,829,000 after acquiring an additional 216,907 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Organon & Co. by 23.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,407,915 shares of the company’s stock worth $49,843,000 after purchasing an additional 463,216 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Trading Up 2.6 %

OGN stock opened at $15.28 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The firm has a market cap of $3.94 billion, a P/E ratio of 3.03, a P/E/G ratio of 0.70 and a beta of 0.84. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $23.10. The business’s 50 day moving average is $17.61 and its 200-day moving average is $19.78.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.03). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. Equities analysts anticipate that Organon & Co. will post 3.89 earnings per share 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 issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 7.33%. The ex-dividend date of this dividend is Tuesday, November 12th. Organon & Co.’s dividend payout ratio is currently 22.22%.

Analysts Set New Price Targets

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

Organon & Co. 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.