Organon & Co. $OGN Stock: Douglas Lane & Associates LLC Trims Position

Key Points

• Douglas Lane & Associates cut its Organon stake by 40.2% in the third quarter, selling 72,604 shares and retaining 108,059 shares valued at approximately $1.48 million.
• Organon shares opened at $13.80, near their 52-week high of $13.83, while institutional investors collectively owned 77.43% of the stock.
• The company paid a quarterly dividend of $0.02 per share, equivalent to an annualized yield of 0.6%. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $11.40.

Douglas Lane & Associates LLC trimmed its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 40.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,059 shares of the company's stock after selling 72,604 shares during the quarter. Douglas Lane & Associates LLC's holdings in Organon & Co. were worth $1,480,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in OGN. Cetera Investment Advisers lifted its stake in Organon & Co. by 1.7% in the first quarter. Cetera Investment Advisers now owns 48,073 shares of the company's stock worth $288,000 after acquiring an additional 788 shares during the period. GAMMA Investing LLC raised its holdings in Organon & Co. by 38.2% in the third quarter. GAMMA Investing LLC now owns 7,990 shares of the company's stock worth $109,000 after purchasing an additional 2,208 shares in the last quarter. Allied Private Wealth LLC acquired a new stake in Organon & Co. in the second quarter valued at approximately $33,000. Poehling Capital Management INC. grew its stake in Organon & Co. by 1.3% during the 1st quarter. Poehling Capital Management INC. now owns 219,288 shares of the company's stock worth $1,314,000 after buying an additional 2,796 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Organon & Co. by 8.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 52,816 shares of the company's stock valued at $316,000 after buying an additional 3,899 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Stock Up 0.4%

OGN stock opened at $13.80 on Friday. The stock has a market capitalization of $3.63 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.27 and a beta of 1.55. Organon & Co. has a 52 week low of $5.69 and a 52 week high of $13.83. The firm has a 50-day simple moving average of $13.71 and a 200-day simple moving average of $12.50. The company has a quick ratio of 1.44, a current ratio of 1.95 and a debt-to-equity ratio of 8.43.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Friday, August 14th were given a dividend of $0.02 per share. The ex-dividend date was Friday, August 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. Organon & Co.'s dividend payout ratio (DPR) is presently 10.39%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Organon & Co. from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $11.40.

About Organon & Co.

Organon & Co is a global healthcare company focused primarily on women's health, biosimilars and a portfolio of established medicines. The company develops, manufactures and commercializes prescription products designed to address a range of health needs, with an emphasis on expanding access to treatments in markets around the world.

Its women's health portfolio includes contraceptive products such as Nexplanon and NuvaRing, as well as medicines used in areas including fertility and reproductive health.

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