National Bank of Canada FI Decreases Stake in Organon & Co. (NYSE:OGN)

National Bank of Canada FI trimmed its stake in Organon & Co. (NYSE:OGN - Free Report) by 95.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,288 shares of the company's stock after selling 91,558 shares during the period. National Bank of Canada FI's holdings in Organon & Co. were worth $63,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Teachers Retirement System lifted its position in shares of Organon & Co. by 20.1% in the 4th quarter. New York State Teachers Retirement System now owns 348,226 shares of the company's stock worth $5,021,000 after purchasing an additional 58,321 shares during the period. State of Alaska Department of Revenue lifted its position in Organon & Co. by 417.8% during the 4th quarter. State of Alaska Department of Revenue now owns 157,249 shares of the company's stock valued at $2,267,000 after acquiring an additional 126,882 shares during the period. KLCM Advisors Inc. lifted its position in Organon & Co. by 60.4% during the 4th quarter. KLCM Advisors Inc. now owns 999,099 shares of the company's stock valued at $14,407,000 after acquiring an additional 376,055 shares during the period. State of New Jersey Common Pension Fund D lifted its position in Organon & Co. by 59.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 221,461 shares of the company's stock valued at $3,193,000 after acquiring an additional 82,239 shares during the period. Finally, UBS Group AG lifted its position in Organon & Co. by 88.3% during the 3rd quarter. UBS Group AG now owns 657,912 shares of the company's stock valued at $11,421,000 after acquiring an additional 308,470 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Stock Up 1.3 %

Shares of NYSE:OGN traded up $0.28 during trading on Friday, reaching $21.80. 1,669,097 shares of the stock traded hands, compared to its average volume of 2,338,985. The stock has a 50-day moving average of $18.82 and a two-hundred day moving average of $16.16. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $24.08. The company has a debt-to-equity ratio of 181.35, a quick ratio of 1.15 and a current ratio of 1.65. The stock has a market cap of $5.61 billion, a P/E ratio of 5.33, a price-to-earnings-growth ratio of 0.94 and a beta of 0.81.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.14. Organon & Co. had a net margin of 16.50% and a negative return on equity of 360.57%. The firm had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.55 billion. As a group, sell-side analysts expect that Organon & Co. will post 4.3 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date is Friday, May 10th. Organon & Co.'s payout ratio is 27.38%.

Insider Activity

In related news, insider Kirke Weaver bought 2,720 shares of the business's stock in a transaction on Thursday, February 22nd. The stock was acquired at an average price of $18.36 per share, with a total value of $49,939.20. Following the transaction, the insider now owns 15,181 shares in the company, valued at approximately $278,723.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.17% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OGN. The Goldman Sachs Group lifted their price target on shares of Organon & Co. from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, May 3rd. Piper Sandler lifted their price target on shares of Organon & Co. from $22.00 to $24.00 and gave the company an "overweight" rating in a research report on Monday, April 29th.

Organon & Co. Company Profile

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.