Bank of New York Mellon Corp Sells 104,943 Shares of Organon & Co. $OGN

Bank of New York Mellon Corp trimmed its stake in Organon & Co. (NYSE:OGN) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,579,664 shares of the company’s stock after selling 104,943 shares during the quarter. Bank of New York Mellon Corp’s holdings in Organon & Co. were worth $34,651,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OGN. State of New Jersey Common Pension Fund D increased its holdings in Organon & Co. by 69.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 216,737 shares of the company’s stock worth $2,098,000 after buying an additional 88,454 shares during the last quarter. Douglas Lane & Associates LLC grew its position in shares of Organon & Co. by 19.0% in the 2nd quarter. Douglas Lane & Associates LLC now owns 315,952 shares of the company’s stock valued at $3,058,000 after acquiring an additional 50,393 shares during the period. Triumph Capital Management increased its stake in shares of Organon & Co. by 109.1% during the 2nd quarter. Triumph Capital Management now owns 90,342 shares of the company’s stock worth $875,000 after purchasing an additional 47,127 shares during the last quarter. WBI Investments LLC bought a new stake in shares of Organon & Co. in the 1st quarter valued at about $946,000. Finally, Cacti Asset Management LLC acquired a new stake in Organon & Co. in the 2nd quarter valued at about $246,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Trading Down 1.3%

Shares of OGN stock opened at $7.61 on Friday. The firm has a 50 day moving average price of $9.25 and a two-hundred day moving average price of $9.46. The company has a quick ratio of 1.13, a current ratio of 1.75 and a debt-to-equity ratio of 9.69. The company has a market capitalization of $1.98 billion, a PE ratio of 3.96, a price-to-earnings-growth ratio of 1.63 and a beta of 0.59. Organon & Co. has a 12-month low of $6.18 and a 12-month high of $17.23.

Organon & Co. (NYSE:OGN) last posted its earnings results on Monday, November 10th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.93 by $0.08. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a return on equity of 143.47% and a net margin of 7.95%.During the same quarter in the prior year, the business earned $1.38 earnings per share. Organon & Co. has set its FY 2025 guidance at EPS. As a group, analysts predict that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, November 20th. This represents a $0.08 annualized dividend and a yield of 1.1%. Organon & Co.’s dividend payout ratio (DPR) is presently 4.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OGN shares. Morgan Stanley lowered their price target on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Organon & Co. in a research report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their target price on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday. Finally, Piper Sandler cut 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 analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Organon & Co. has a consensus rating of “Hold” and a consensus target price of $12.50.

About Organon & Co.

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.