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LPL Financial LLC Sells 130,394 Shares of Organon & Co. (NYSE:OGN)

Organon & Co. logo with Medical background

Key Points

  • LPL Financial LLC reduced its stake in Organon & Co. by 28.5%, owning approximately 0.13% of the company, valued at $4.87 million as of its latest SEC filing.
  • Organon & Co. reported a net profit margin of 11.15% and an expected EPS of 3.68 for the current fiscal year, despite a 0.8% year-over-year revenue decline.
  • The company recently announced a quarterly dividend of $0.02 per share, with an annual yield of 0.9%, to be paid on September 11th.
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LPL Financial LLC reduced its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 28.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 327,293 shares of the company's stock after selling 130,394 shares during the quarter. LPL Financial LLC owned 0.13% of Organon & Co. worth $4,873,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GeoWealth Management LLC bought a new position in shares of Organon & Co. during the 4th quarter worth about $41,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Organon & Co. in the first quarter worth about $60,000. GAMMA Investing LLC lifted its holdings in Organon & Co. by 186.9% during the 1st quarter. GAMMA Investing LLC now owns 4,611 shares of the company's stock worth $69,000 after buying an additional 3,004 shares in the last quarter. Cary Street Partners Financial LLC bought a new position in Organon & Co. in the fourth quarter valued at about $111,000. Finally, SBI Securities Co. Ltd. grew its position in shares of 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 buying an additional 1,145 shares during the period. 77.43% of the stock is owned by institutional investors.

Organon & Co. Stock Performance

Shares of NYSE OGN traded up $0.04 during trading hours on Friday, reaching $9.43. 3,048,686 shares of the stock were exchanged, compared to its average volume of 4,732,525. The stock's fifty day simple moving average is $9.75 and its 200 day simple moving average is $11.66. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 3.51, a P/E/G ratio of 0.98 and a beta of 0.60. Organon & Co. has a 52 week low of $8.01 and a 52 week high of $23.10. The company has a debt-to-equity ratio of 11.98, a quick ratio of 1.13 and a current ratio of 1.65.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.06. Organon & Co. had a return on equity of 163.88% and a net margin of 11.15%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the firm earned $1.12 earnings per share. The company's revenue was down .8% on a year-over-year basis. Sell-side analysts predict that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 15th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 15th. Organon & Co.'s payout ratio is presently 2.97%.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Analysis on OGN

About Organon & Co.

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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