Heritage Investors Management Corp Sells 2,176 Shares of Organon & Co. (NYSE:OGN)

Heritage Investors Management Corp decreased its stake in Organon & Co. (NYSE:OGN) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,426 shares of the company’s stock after selling 2,176 shares during the period. Heritage Investors Management Corp’s holdings in Organon & Co. were worth $943,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. New York State Teachers Retirement System boosted its position in Organon & Co. by 20.1% during the fourth quarter. New York State Teachers Retirement System now owns 348,226 shares of the company’s stock valued at $5,021,000 after purchasing an additional 58,321 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of 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 worth $2,267,000 after acquiring an additional 126,882 shares during the last quarter. KLCM Advisors Inc. lifted its stake in shares of Organon & Co. by 60.4% during the 4th quarter. KLCM Advisors Inc. now owns 999,099 shares of the company’s stock worth $14,407,000 after buying an additional 376,055 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of 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 worth $3,193,000 after buying an additional 82,239 shares during the period. Finally, UBS Group AG grew its stake in Organon & Co. by 88.3% in the 3rd quarter. UBS Group AG now owns 657,912 shares of the company’s stock valued at $11,421,000 after buying an additional 308,470 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Wall Street Analysts Forecast Growth

OGN has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on Organon & Co. from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Piper Sandler raised their target price on shares of Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday, April 29th.

Organon & Co. Price Performance

OGN traded up $0.15 on Thursday, hitting $20.52. 2,023,524 shares of the stock were exchanged, compared to its average volume of 2,713,194. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 5.01, a PEG ratio of 0.88 and a beta of 0.81. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $24.08. The business has a 50-day moving average of $18.35 and a two-hundred day moving average of $15.86.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, topping 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 259.73%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. Equities research analysts expect that Organon & Co. will post 4.1 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Monday, May 13th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.12 annualized dividend and a dividend yield of 5.46%. Organon & Co.’s dividend payout ratio is currently 27.38%.

Insider Activity at Organon & Co.

In related news, insider Kirke Weaver bought 2,720 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were purchased 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 owns 15,181 shares in the company, valued at approximately $278,723.16. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.17% of the stock is currently owned by insiders.

Organon & Co. 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.