Townsquare Capital LLC Sells 14,711 Shares of Organon & Co. (NYSE:OGN)

Townsquare Capital LLC decreased its position in Organon & Co. (NYSE:OGN) by 20.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,607 shares of the company’s stock after selling 14,711 shares during the period. Townsquare Capital LLC’s holdings in Organon & Co. were worth $828,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OGN. GeoWealth Management LLC bought a new position in Organon & Co. during the 4th quarter valued at about $41,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Organon & Co. during the 1st quarter valued at about $60,000. PARK CIRCLE Co lifted its stake in Organon & Co. by 640.7% during the 1st quarter. PARK CIRCLE Co now owns 4,000 shares of the company’s stock valued at $60,000 after acquiring an additional 3,460 shares during the period. GAMMA Investing LLC increased its position in shares of Organon & Co. by 186.9% during the 1st quarter. GAMMA Investing LLC now owns 4,611 shares of the company’s stock valued at $69,000 after purchasing an additional 3,004 shares during the last quarter. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of Organon & Co. during the 4th quarter valued at about $111,000. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Trading Up 0.4%

Organon & Co. stock opened at $9.43 on Friday. The firm has a 50 day moving average of $9.75 and a 200 day moving average of $11.66. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 3.51, a P/E/G ratio of 0.98 and a beta of 0.60. Organon & Co. has a 12-month low of $8.01 and a 12-month high of $23.10. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 11.98.

Organon & Co. (NYSE:OGN) last released its earnings results on Tuesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.06. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.55 billion. Organon & Co. had a net margin of 11.15% and a return on equity of 163.88%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 EPS. As a group, research analysts predict that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Friday, August 15th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Organon & Co.’s dividend payout ratio is currently 2.97%.

Analyst Ratings Changes

Several research firms have recently commented on OGN. Morgan Stanley reduced their price target on shares of Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating for the company in a research report on Monday, May 5th. Piper Sandler reduced their price target on shares of Organon & Co. from $24.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, May 15th. Evercore ISI lowered shares of Organon & Co. from an “outperform” rating to an “inline” rating in a research report on Friday, May 2nd. Finally, BNP Paribas raised shares of Organon & Co. to a “strong-buy” rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

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.