Organon & Co. $OGN Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC trimmed its holdings in Organon & Co. (NYSE:OGN) by 47.4% in the second quarter, HoldingsChannel.com reports. The firm owned 16,205 shares of the company’s stock after selling 14,585 shares during the quarter. Carret Asset Management LLC’s holdings in Organon & Co. were worth $157,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in OGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Organon & Co. by 870.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,010,789 shares of the company’s stock valued at $15,051,000 after purchasing an additional 906,675 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Organon & Co. by 8.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,715,445 shares of the company’s stock worth $159,553,000 after purchasing an additional 820,378 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Organon & Co. by 126.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,435,198 shares of the company’s stock worth $21,370,000 after purchasing an additional 801,307 shares in the last quarter. Gotham Asset Management LLC increased its position in shares of Organon & Co. by 74.3% during the first quarter. Gotham Asset Management LLC now owns 1,400,250 shares of the company’s stock worth $20,850,000 after purchasing an additional 596,936 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Organon & Co. during the first quarter worth about $8,773,000. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Price Performance

OGN stock opened at $6.58 on Friday. The company has a market capitalization of $1.71 billion, a P/E ratio of 2.44, a PEG ratio of 0.57 and a beta of 0.63. Organon & Co. has a twelve month low of $6.18 and a twelve month high of $19.05. The business has a 50 day simple moving average of $9.71 and a 200-day simple moving average of $9.75. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 11.98.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.06. Organon & Co. had a return on equity of 163.88% and a net margin of 11.15%.The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the company earned $1.12 earnings per share. The company’s revenue was down .8% compared to the same quarter last year. Organon & Co. has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Friday, August 15th were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, August 15th. Organon & Co.’s dividend payout ratio is 2.97%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OGN shares. Piper Sandler downgraded Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a report on Monday. Weiss Ratings reissued a “sell (d+)” rating on shares of Organon & Co. in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.00.

Organon & Co. Profile

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.