Gilman Hill Asset Management LLC Sells 443,231 Shares of Organon & Co. $OGN

Key Points

• Gilman Hill Asset Management LLC reduced its stake in Organon & Co. by 68.5%, now holding approximately $1.97 million worth of shares after selling 443,231 shares in the second quarter.
• Organon & Co. recently received a "strong-buy" rating from BNP Paribas, with an average price target of $17.33 and a current analyst consensus rating of "Moderate Buy".
• The company's quarterly earnings report showed a net margin of 11.15% on revenues of $1.59 billion, which was slightly down by 0.8% year-over-year.

Gilman Hill Asset Management LLC lowered its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 68.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 203,681 shares of the company's stock after selling 443,231 shares during the quarter. Gilman Hill Asset Management LLC owned 0.08% of Organon & Co. worth $1,972,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors raised its holdings in shares of Organon & Co. by 22.5% in the 4th quarter. Captrust Financial Advisors now owns 29,853 shares of the company's stock worth $445,000 after purchasing an additional 5,489 shares during the period. Cetera Investment Advisers raised its holdings in shares of Organon & Co. by 62.7% in the 4th quarter. Cetera Investment Advisers now owns 76,005 shares of the company's stock worth $1,134,000 after purchasing an additional 29,287 shares during the period. Focus Partners Wealth bought a new stake in shares of Organon & Co. in the 4th quarter worth approximately $627,000. Lazard Asset Management LLC raised its holdings in shares of Organon & Co. by 90.9% in the 4th quarter. Lazard Asset Management LLC now owns 14,509 shares of the company's stock worth $216,000 after purchasing an additional 6,909 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Organon & Co. by 50.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 104,114 shares of the company's stock worth $1,553,000 after purchasing an additional 34,702 shares during the period. Institutional investors own 77.43% of the company's stock.

Organon & Co. Stock Performance

Shares of NYSE:OGN traded down $0.39 during mid-day trading on Friday, reaching $10.46. The company had a trading volume of 9,658,470 shares, compared to its average volume of 3,489,394. The company's 50-day moving average price is $9.69 and its 200-day moving average price is $10.71. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 11.98. Organon & Co. has a one year low of $8.01 and a one year high of $20.09. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 3.89, a PEG ratio of 0.95 and a beta of 0.60.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.06. Organon & Co. had a net margin of 11.15% and a return on equity of 163.88%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period last year, the business earned $1.12 earnings per share. Organon & Co.'s revenue was down .8% compared to the same quarter last year. Organon & Co. has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

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