AQR Capital Management LLC Sells 63,535 Shares of Organon & Co. $OGN

Key Points

• AQR Capital Management LLC reduced its stake in Organon & Co. by 4.4%, now holding approximately 1,378,620 shares valued at $19.91 million.
• Organon & Co. recently posted earnings of $1.00 per share, surpassing analysts' expectations of $0.94 and generating revenues of $1.59 billion.
• The company declared a quarterly dividend of $0.02 per share, with a dividend yield of 0.8%, to be paid on September 11th.

AQR Capital Management LLC lessened its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,378,620 shares of the company's stock after selling 63,535 shares during the quarter. AQR Capital Management LLC owned approximately 0.53% of Organon & Co. worth $19,907,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in OGN. Brooklyn Investment Group raised its position in shares of Organon & Co. by 1,012.3% in the first quarter. Brooklyn Investment Group now owns 3,070 shares of the company's stock valued at $46,000 after purchasing an additional 2,794 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in Organon & Co. in the 1st quarter valued at about $51,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Organon & Co. during the first quarter valued at approximately $60,000. PARK CIRCLE Co lifted its stake in Organon & Co. by 640.7% during the first quarter. PARK CIRCLE Co now owns 4,000 shares of the company's stock worth $60,000 after purchasing an additional 3,460 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Organon & Co. by 186.9% in the first quarter. GAMMA Investing LLC now owns 4,611 shares of the company's stock worth $69,000 after acquiring an additional 3,004 shares during the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas upgraded Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $17.33.

Organon & Co. Trading Down 0.1%

Shares of OGN stock traded down $0.01 during trading hours on Friday, hitting $10.65. 2,698,179 shares of the company's stock traded hands, compared to its average volume of 3,501,182. The stock's 50 day simple moving average is $9.64 and its 200 day simple moving average is $10.85. The stock has a market cap of $2.77 billion, a PE ratio of 3.96, a price-to-earnings-growth ratio of 0.97 and a beta of 0.60. Organon & Co. has a 12 month low of $8.01 and a 12 month high of $21.06. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 11.98.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.06. The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.55 billion. Organon & Co. had a net margin of 11.15% and a return on equity of 163.88%. Organon & Co.'s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 earnings per share. Organon & Co. has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 15th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, August 15th. Organon & Co.'s dividend payout ratio (DPR) is 2.97%.

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.