PNC Financial Services Group Inc. Sells 99,869 Shares of Organon & Co. $OGN

PNC Financial Services Group Inc. lowered its position in shares of Organon & Co. (NYSE:OGN) by 51.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 93,306 shares of the company’s stock after selling 99,869 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Organon & Co. were worth $997,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OGN. Royal Bank of Canada raised its stake in Organon & Co. by 53.4% during the 1st quarter. Royal Bank of Canada now owns 360,862 shares of the company’s stock worth $5,374,000 after buying an additional 125,648 shares during the period. Goldman Sachs Group Inc. boosted its holdings 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 valued at $21,370,000 after buying an additional 801,307 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Organon & Co. by 2.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,042,991 shares of the company’s stock worth $15,530,000 after acquiring an additional 26,640 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Organon & Co. by 33.2% during the first quarter. Focus Partners Wealth now owns 55,875 shares of the company’s stock worth $832,000 after acquiring an additional 13,925 shares during the period. Finally, AlphaQuest LLC lifted its position in Organon & Co. by 64,378.6% in the 2nd quarter. AlphaQuest LLC now owns 18,054 shares of the company’s stock valued at $175,000 after acquiring an additional 18,026 shares in the last quarter. 77.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

OGN has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, November 11th. Morgan Stanley decreased their price objective 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. Barclays lifted their target price on Organon & Co. from $7.50 to $8.00 and gave the company an “underweight” rating in a research report on Tuesday. Zacks Research downgraded Organon & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. Finally, Wall Street Zen cut shares of Organon & Co. from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Organon & Co. has a consensus rating of “Reduce” and an average price target of $8.50.

Organon & Co. Stock Up 3.1%

OGN stock opened at $8.17 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.75 and a debt-to-equity ratio of 9.69. The business has a 50 day moving average price of $7.97 and a two-hundred day moving average price of $8.50. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 0.72 and a beta of 0.58. Organon & Co. has a twelve month low of $6.18 and a twelve month high of $16.18.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.10). Organon & Co. had a return on equity of 123.06% and a net margin of 3.01%.The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company earned $0.90 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. Analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Monday, February 23rd will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, February 23rd. Organon & Co.’s dividend payout ratio (DPR) is 11.27%.

Organon & Co. Company Profile

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.