Hedges Asset Management LLC Sells 5,000 Shares of Organon & Co. (NYSE:OGN)

Hedges Asset Management LLC cut its stake in Organon & Co. (NYSE:OGN) by 22.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,500 shares of the company’s stock after selling 5,000 shares during the period. Hedges Asset Management LLC’s holdings in Organon & Co. were worth $335,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in OGN. Versant Capital Management Inc grew its holdings in Organon & Co. by 200.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock worth $25,000 after acquiring an additional 805 shares in the last quarter. William B. Walkup & Associates Inc. bought a new position in Organon & Co. during the 2nd quarter worth about $31,000. Fidelis Capital Partners LLC bought a new position in Organon & Co. during the 1st quarter worth about $43,000. Atlas Capital Advisors LLC grew its holdings in Organon & Co. by 2,236.5% during the 2nd quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock worth $46,000 after acquiring an additional 2,147 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in Organon & Co. by 123.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 2,628 shares of the company’s stock worth $49,000 after acquiring an additional 1,454 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Stock Performance

OGN stock opened at $17.16 on Monday. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 4.20, a PEG ratio of 0.77 and a beta of 0.84. The firm has a 50-day simple moving average of $19.70 and a two-hundred day simple moving average of $20.12. Organon & Co. has a one year low of $10.84 and a one year high of $23.10. The company has a debt-to-equity ratio of 60.05, a quick ratio of 1.17 and a current ratio of 1.64.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.08 by $0.04. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. Organon & Co.’s revenue was down .1% on a year-over-year basis. During the same period last year, the firm posted $1.31 EPS. On average, equities analysts forecast that Organon & Co. will post 4.12 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date of this dividend was Friday, August 16th. Organon & Co.’s dividend payout ratio (DPR) is presently 27.38%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OGN shares. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. lowered shares of Organon & Co. from a “neutral” rating to an “underweight” rating and increased their price target for the company from $18.00 to $20.00 in a research report on Friday, September 6th.

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.