Hussman Strategic Advisors Inc. Sells 84,000 Shares of Organon & Co. (NYSE:OGN)

Hussman Strategic Advisors Inc. decreased its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 44.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,000 shares of the company's stock after selling 84,000 shares during the quarter. Hussman Strategic Advisors Inc.'s holdings in Organon & Co. were worth $1,563,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Easterly Investment Partners LLC grew its position in shares of Organon & Co. by 22.4% during the 1st quarter. Easterly Investment Partners LLC now owns 486,623 shares of the company's stock worth $7,246,000 after buying an additional 88,989 shares during the period. Victory Capital Management Inc. boosted its stake in Organon & Co. by 81.7% during the 1st quarter. Victory Capital Management Inc. now owns 401,967 shares of the company's stock worth $5,985,000 after acquiring an additional 180,689 shares during the last quarter. Prevail Innovative Wealth Advisors LLC bought a new position in Organon & Co. during the 1st quarter worth approximately $451,000. Massachusetts Financial Services Co. MA boosted its stake in Organon & Co. by 8.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,715,445 shares of the company's stock worth $159,553,000 after acquiring an additional 820,378 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in Organon & Co. by 17.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 7,653 shares of the company's stock worth $114,000 after acquiring an additional 1,145 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company's stock.

Organon & Co. Stock Down 1.9%

Shares of Organon & Co. stock traded down $0.18 on Friday, hitting $9.46. The company had a trading volume of 3,128,446 shares, compared to its average volume of 3,617,693. The firm has a market capitalization of $2.46 billion, a P/E ratio of 3.28, a P/E/G ratio of 1.00 and a beta of 0.60. Organon & Co. has a twelve month low of $8.01 and a twelve month high of $23.10. The company has a debt-to-equity ratio of 16.49, a current ratio of 1.67 and a quick ratio of 1.15. The stock has a 50-day moving average of $9.52 and a 200-day moving average of $12.53.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.13. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.53 billion. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. The business's quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 earnings per share. Research analysts predict that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend was Monday, May 12th. Organon & Co.'s dividend payout ratio is presently 2.78%.

Analyst Ratings Changes

Several research firms recently weighed in on OGN. Piper Sandler reduced their price objective on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. BNP Paribas raised shares of Organon & Co. to a "strong-buy" rating in a research note on Thursday, May 22nd. Evercore ISI lowered shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley reduced their price objective on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Organon & Co. currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Insider Buying and Selling at Organon & Co.

In other Organon & Co. news, insider Kirke Weaver acquired 8,045 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $9.21 per share, with a total value of $74,094.45. Following the completion of the transaction, the insider directly owned 52,489 shares in the company, valued at $483,423.69. This trade represents a 18.10% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin Ali acquired 34,000 shares of the business's stock in a transaction dated Monday, May 5th. The stock was acquired at an average cost of $8.80 per share, for a total transaction of $299,200.00. Following the transaction, the chief executive officer owned 282,731 shares of the company's stock, valued at $2,488,032.80. This represents a 13.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 102,345 shares of company stock worth $902,430. Company insiders own 1.96% of the company's stock.

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.