Canada Pension Plan Investment Board decreased its stake in shares of Organon & Co. (NYSE:OGN – Get Rating) by 67.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,519 shares of the company’s stock after selling 124,900 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Organon & Co. were worth $1,440,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Vantage Consulting Group Inc increased its stake in Organon & Co. by 5.9% during the 2nd quarter. Vantage Consulting Group Inc now owns 6,785 shares of the company’s stock valued at $229,000 after purchasing an additional 377 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Organon & Co. by 6.4% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 6,340 shares of the company’s stock valued at $214,000 after purchasing an additional 380 shares in the last quarter. Perigon Wealth Management LLC increased its stake in Organon & Co. by 5.9% during the 2nd quarter. Perigon Wealth Management LLC now owns 6,962 shares of the company’s stock valued at $235,000 after purchasing an additional 385 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Organon & Co. by 12.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,665 shares of the company’s stock valued at $86,000 after purchasing an additional 394 shares in the last quarter. Finally, Beacon Pointe Advisors LLC increased its stake in Organon & Co. by 4.1% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 10,804 shares of the company’s stock valued at $362,000 after purchasing an additional 422 shares in the last quarter. Institutional investors and hedge funds own 75.74% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Morgan Stanley cut their price objective on shares of Organon & Co. from $27.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Friday, November 4th.
Organon & Co. Price Performance
Organon & Co. (NYSE:OGN – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. Organon & Co. had a negative return on equity of 111.56% and a net margin of 14.85%. The firm’s revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 EPS. Equities analysts anticipate that Organon & Co. will post 4.43 EPS for the current fiscal year.
Organon & Co. Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 16th. Investors of record on Monday, February 27th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Friday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is presently 31.20%.
About Organon & Co.
Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.
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