Organon & Co. $OGN Position Cut by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its Organon & Co. position by 57.5% in the second quarter, selling 528,592 shares and retaining 390,232 shares worth approximately $5.28 million.
• Institutional investors own 77.43% of Organon, while several smaller funds recently initiated positions in the company.
• Analyst sentiment remains cautious: five analysts rate the stock “Hold” and two rate it “Sell,” resulting in a MarketBeat consensus rating of “Reduce” and an average price target of $11.40.

Squarepoint Ops LLC lowered its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 57.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390,232 shares of the company's stock after selling 528,592 shares during the period. Squarepoint Ops LLC owned approximately 0.15% of Organon & Co. worth $5,284,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Allied Private Wealth LLC bought a new position in shares of Organon & Co. in the second quarter worth $33,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Organon & Co. during the fourth quarter valued at about $44,000. Kestra Advisory Services LLC bought a new stake in shares of Organon & Co. during the fourth quarter valued at about $47,000. WNY Asset Management LLC acquired a new stake in Organon & Co. in the first quarter worth about $64,000. Finally, Empowered Funds LLC acquired a new stake in Organon & Co. in the fourth quarter worth about $74,000. Institutional investors own 77.43% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Organon & Co. from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, August 3rd. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $11.40.

Organon & Co. Stock Performance

OGN opened at $13.64 on Friday. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.26 and a beta of 1.52. The company has a debt-to-equity ratio of 8.43, a current ratio of 1.95 and a quick ratio of 1.44. Organon & Co. has a 1-year low of $5.69 and a 1-year high of $13.78. The business has a 50 day moving average price of $13.63 and a two-hundred day moving average price of $11.53.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 14th were issued a $0.02 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. Organon & Co.'s dividend payout ratio is 10.39%.

About Organon & Co.

Organon & Co is a global healthcare company focused on improving the health and well-being of women throughout their lives. Its women's health portfolio includes contraceptive products such as Nexplanon and NuvaRing, as well as fertility treatments and medicines used in reproductive health.

The company also markets biosimilars and a portfolio of established medicines across areas including cardiovascular disease, respiratory conditions, dermatology, pain management and allergy. Its products are distributed in markets around the world, with a particular focus on expanding access to medicines in international and emerging markets.

Organon was established as an independent company through a spin-off from Merck & Co in June 2021.

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