Sanctuary Advisors LLC Sells 187,266 Shares of Organon & Co. $OGN

Key Points

• Sanctuary Advisors LLC sharply cut its Organon stake, selling 187,266 shares and reducing its position by 86.6% in the fourth quarter. The firm ended the period with 29,002 shares valued at about $208,000.
• Organon reported mixed quarterly results, posting $0.71 EPS versus the $0.83 estimate while revenue came in at $1.46 billion, slightly below expectations. Revenue also fell 3.5% year over year.
• Analysts remain cautious on the stock, with the current consensus rating at “Reduce” and an average price target of $11.40. The company also announced a quarterly dividend of $0.02 per share, implying a modest 0.6% yield.

Sanctuary Advisors LLC lowered its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 86.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,002 shares of the company's stock after selling 187,266 shares during the quarter. Sanctuary Advisors LLC's holdings in Organon & Co. were worth $208,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Organon & Co. during the third quarter worth $29,000. Farther Finance Advisors LLC raised its position in shares of Organon & Co. by 87.8% during the fourth quarter. Farther Finance Advisors LLC now owns 4,349 shares of the company's stock worth $31,000 after acquiring an additional 2,033 shares during the last quarter. Rothschild Investment LLC raised its position in shares of Organon & Co. by 73.1% during the third quarter. Rothschild Investment LLC now owns 3,899 shares of the company's stock worth $42,000 after acquiring an additional 1,646 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Organon & Co. by 70.2% during the third quarter. Smartleaf Asset Management LLC now owns 5,113 shares of the company's stock worth $53,000 after acquiring an additional 2,109 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Organon & Co. by 50.1% during the fourth quarter. KBC Group NV now owns 10,564 shares of the company's stock worth $76,000 after buying an additional 3,524 shares during the last quarter. Institutional investors own 77.43% of the company's stock.

Insider Buying and Selling

In other news, SVP Lynette Holzbaur bought 26,448 shares of the stock in a transaction on Wednesday, May 6th. The stock was purchased at an average price of $13.35 per share, with a total value of $353,080.80. Following the completion of the purchase, the senior vice president owned 52,851 shares of the company's stock, valued at approximately $705,560.85. This trade represents a 100.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.62% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on OGN shares. Piper Sandler raised shares of Organon & Co. from an "underweight" rating to a "neutral" rating and boosted their price target for the stock from $5.00 to $14.00 in a research note on Tuesday, April 28th. Barclays boosted their price target on shares of Organon & Co. from $7.50 to $8.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 24th. Zacks Research raised shares of Organon & Co. from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 14th. Wall Street Zen downgraded Organon & Co. from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. Finally, BNP Paribas Exane reiterated a "neutral" rating and issued a $14.00 price objective (up from $12.00) on shares of Organon & Co. in a report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $11.40.

Organon & Co. Trading Down 0.1%

NYSE OGN opened at $13.32 on Wednesday. The stock has a 50-day simple moving average of $8.36 and a 200 day simple moving average of $7.91. The company has a market capitalization of $3.50 billion, a PE ratio of 14.32, a P/E/G ratio of 1.23 and a beta of 1.57. The company has a current ratio of 1.97, a quick ratio of 1.42 and a debt-to-equity ratio of 9.47. Organon & Co. has a 12 month low of $5.69 and a 12 month high of $13.44.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.12). Organon & Co. had a net margin of 3.99% and a return on equity of 99.95%. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the company posted $1.02 EPS. The firm's revenue for the quarter was down 3.5% on a year-over-year basis. Research analysts forecast that Organon & Co. will post 3.23 EPS for the current year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Monday, May 11th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, May 11th. Organon & Co.'s dividend payout ratio is presently 8.60%.

Organon & Co. Profile

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.

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