CENTRAL TRUST Co reduced its holdings in Organon & Co. (NYSE:OGN – Free Report) by 31.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,372 shares of the company’s stock after selling 1,080 shares during the quarter. CENTRAL TRUST Co’s holdings in Organon & Co. were worth $56,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of OGN. State Street Corp lifted its position in shares of Organon & Co. by 27.8% in the 1st 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 during the last quarter. Mawer Investment Management Ltd. lifted its position in Organon & Co. by 22.1% in the 4th 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 last quarter. Amundi lifted its position in Organon & Co. by 98.9% in the 4th quarter. Amundi now owns 3,407,333 shares of the company’s stock valued at $104,399,000 after purchasing an additional 1,693,968 shares during the last quarter. Norges Bank bought a new stake in Organon & Co. in the 4th quarter valued at about $40,751,000. Finally, Balyasny Asset Management LLC lifted its position in Organon & Co. by 464.1% in the 3rd 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 last quarter. 76.65% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Raymond James assumed coverage on shares of Organon & Co. in a research report on Wednesday, March 15th. They issued an “outperform” rating and a $33.00 price objective on the stock.
Organon & Co. Trading Down 1.2 %
Organon & Co. (NYSE:OGN – Free Report) last released its earnings results on Thursday, May 4th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.10). The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.54 billion. Organon & Co. had a net margin of 12.14% and a negative return on equity of 119.00%. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.65 EPS. Research analysts expect that Organon & Co. will post 4.18 earnings per share for the current fiscal year.
Organon & Co. Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Monday, May 15th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, May 12th. This represents a $1.12 annualized dividend and a dividend yield of 5.44%. Organon & Co.’s dividend payout ratio is currently 38.36%.
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/Implanon, 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.
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