Organon & Co. $OGN Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in shares of Organon & Co. (NYSE:OGN) by 11.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,175 shares of the company’s stock after selling 24,242 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Organon & Co. were worth $1,870,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Organon & Co. by 870.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,010,789 shares of the company’s stock worth $15,051,000 after buying an additional 906,675 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Organon & Co. by 126.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,435,198 shares of the company’s stock worth $21,370,000 after acquiring an additional 801,307 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Organon & Co. by 117.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,306,930 shares of the company’s stock worth $12,651,000 after acquiring an additional 706,873 shares during the period. Gotham Asset Management LLC boosted its stake in shares of Organon & Co. by 74.3% during the 1st quarter. Gotham Asset Management LLC now owns 1,400,250 shares of the company’s stock worth $20,850,000 after acquiring an additional 596,936 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Organon & Co. during the 1st quarter worth about $8,773,000. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Price Performance

NYSE:OGN opened at $7.46 on Thursday. The stock has a 50 day moving average of $9.02 and a two-hundred day moving average of $9.33. Organon & Co. has a 12 month low of $6.18 and a 12 month high of $17.23. The firm has a market cap of $1.94 billion, a P/E ratio of 3.88, a price-to-earnings-growth ratio of 1.65 and a beta of 0.59. The company has a current ratio of 1.75, a quick ratio of 1.20 and a debt-to-equity ratio of 9.69.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Monday, November 10th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. Organon & Co. had a return on equity of 143.47% and a net margin of 7.95%.The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the company posted $1.38 earnings per share. Organon & Co. has set its FY 2025 guidance at EPS. On average, analysts expect that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.1%. Organon & Co.’s dividend payout ratio is presently 4.17%.

Analysts Set New Price Targets

OGN has been the subject of a number of analyst reports. Morgan Stanley reduced their price target on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Tuesday, November 11th. JPMorgan Chase & Co. cut their price objective on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Organon & Co. in a research note on Wednesday, October 8th. Finally, Piper Sandler cut shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.50.

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.