Highland Capital Management LLC Cuts Holdings in Organon & Co. (NYSE:OGN)

Highland Capital Management LLC cut its holdings in Organon & Co. (NYSE:OGN) by 19.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,020 shares of the company’s stock after selling 4,055 shares during the period. Highland Capital Management LLC’s holdings in Organon & Co. were worth $245,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in OGN. Fairfield Bush & CO. increased its position in shares of Organon & Co. by 3.0% during the 1st quarter. Fairfield Bush & CO. now owns 16,302 shares of the company’s stock valued at $569,000 after purchasing an additional 481 shares during the last quarter. Natixis Advisors L.P. increased its position in Organon & Co. by 52.5% during the first quarter. Natixis Advisors L.P. now owns 50,428 shares of the company’s stock valued at $1,761,000 after acquiring an additional 17,370 shares during the last quarter. MetLife Investment Management LLC increased its position in Organon & Co. by 23.2% during the first quarter. MetLife Investment Management LLC now owns 68,987 shares of the company’s stock valued at $2,410,000 after acquiring an additional 12,969 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of Organon & Co. by 95.6% in the first quarter. Panagora Asset Management Inc. now owns 39,595 shares of the company’s stock valued at $1,383,000 after acquiring an additional 19,352 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Organon & Co. by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,926 shares of the company’s stock worth $1,185,000 after acquiring an additional 2,101 shares during the last quarter. 77.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upped their price target on shares of Organon & Co. from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th.

Insider Activity

In other Organon & Co. news, insider Kirke Weaver acquired 2,720 shares of Organon & Co. stock in a transaction that occurred on Thursday, February 22nd. The stock was bought at an average price of $18.36 per share, with a total value of $49,939.20. Following the completion of the purchase, the insider now directly owns 15,181 shares of the company’s stock, valued at approximately $278,723.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.17% of the company’s stock.

Organon & Co. Trading Up 1.8 %

NYSE OGN opened at $18.45 on Thursday. The stock has a market cap of $4.72 billion, a PE ratio of 4.61, a PEG ratio of 0.86 and a beta of 0.81. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $24.79. The company’s 50-day moving average price is $17.47 and its 200-day moving average price is $15.65.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.14. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. As a group, sell-side analysts forecast that Organon & Co. will post 4.08 earnings per share for the current year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were given a $0.28 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.12 annualized dividend and a dividend yield of 6.07%. Organon & Co.’s payout ratio is presently 28.00%.

About Organon & Co.

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.