Toronto Dominion Bank Reduces Position in Organon & Co. (NYSE:OGN)

Posted by on May 10th, 2023

Toronto Dominion Bank decreased its stake in shares of Organon & Co. (NYSE:OGN – Get Rating) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,053 shares of the company’s stock after selling 1,367 shares during the period. Toronto Dominion Bank’s holdings in Organon & Co. were worth $1,508,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of OGN. State Street Corp increased its position in Organon & Co. by 27.8% during the first quarter. State Street Corp now owns 11,958,385 shares of the company’s stock worth $417,706,000 after buying an additional 2,599,728 shares in the last quarter. Mawer Investment Management Ltd. grew its position in shares of Organon & Co. by 22.1% in the fourth quarter. Mawer Investment Management Ltd. now owns 13,179,805 shares of the company’s stock valued at $368,112,000 after purchasing an additional 2,381,668 shares during the period. Armistice Capital LLC purchased a new stake in shares of Organon & Co. in the third quarter valued at $39,593,000. Balyasny Asset Management LLC grew its position in shares of Organon & Co. by 464.1% in the third quarter. Balyasny Asset Management LLC now owns 1,324,302 shares of the company’s stock valued at $30,989,000 after purchasing an additional 1,089,533 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Organon & Co. by 10.1% in the third quarter. Bank of New York Mellon Corp now owns 9,066,304 shares of the company’s stock valued at $212,151,000 after purchasing an additional 834,392 shares during the period. Hedge funds and other institutional investors own 75.74% of the company’s stock.

Organon & Co. Trading Down 2.7 %

OGN stock opened at $21.24 on Wednesday. The stock has a 50-day moving average price of $23.20 and a two-hundred day moving average price of $25.99. Organon & Co. has a 12-month low of $20.96 and a 12-month high of $39.09. The company has a market cap of $5.42 billion, a PE ratio of 7.27, a price-to-earnings-growth ratio of 0.94 and a beta of 0.77.

Organon & Co. (NYSE:OGN – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.10). Organon & Co. had a net margin of 12.14% and a negative return on equity of 119.00%. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same period last year, the firm posted $1.65 EPS. Organon & Co.’s revenue was down 1.9% on a year-over-year basis. Equities analysts forecast that Organon & Co. will post 4.22 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, May 15th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date of this dividend is Friday, May 12th. Organon & Co.’s dividend payout ratio (DPR) is presently 38.36%.

Wall Street Analysts Forecast Growth

Separately, Raymond James assumed coverage on Organon & Co. in a research report on Wednesday, March 15th. They issued an “outperform” rating and a $33.00 price objective for the company.

Organon & Co. Profile

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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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Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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