Jacobs Levy Equity Management Inc. Sells 597,679 Shares of Organon & Co. (NYSE:OGN)

Jacobs Levy Equity Management Inc. reduced its stake in shares of Organon & Co. (NYSE:OGN) by 66.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 305,348 shares of the company’s stock after selling 597,679 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Organon & Co. were worth $5,741,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Organon & Co. during the fourth quarter worth $26,321,000. Sound Shore Management Inc. CT raised its stake in shares of Organon & Co. by 35.2% in the 4th quarter. Sound Shore Management Inc. CT now owns 4,675,137 shares of the company’s stock valued at $67,415,000 after purchasing an additional 1,216,522 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Organon & Co. by 156.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,900,554 shares of the company’s stock valued at $27,406,000 after purchasing an additional 1,159,519 shares in the last quarter. Kahn Brothers Group Inc. boosted its position in shares of Organon & Co. by 3,242.4% during the first quarter. Kahn Brothers Group Inc. now owns 1,180,204 shares of the company’s stock worth $22,188,000 after buying an additional 1,144,894 shares during the period. Finally, LSV Asset Management grew its holdings in shares of Organon & Co. by 34.0% during the first quarter. LSV Asset Management now owns 4,488,828 shares of the company’s stock worth $84,390,000 after buying an additional 1,139,249 shares in the last quarter. Institutional investors own 77.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on OGN. The Goldman Sachs Group boosted their target price on Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Piper Sandler boosted their price objective on shares of Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th.

Organon & Co. Stock Down 0.9 %

OGN traded down $0.21 on Tuesday, hitting $22.27. 1,301,176 shares of the company were exchanged, compared to its average volume of 2,258,113. The stock’s fifty day moving average is $20.88 and its 200-day moving average is $19.08. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $24.08. The company has a debt-to-equity ratio of 181.35, a quick ratio of 1.15 and a current ratio of 1.65. The company has a market cap of $5.73 billion, a PE ratio of 5.50, a PEG ratio of 1.02 and a beta of 0.85.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.31. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a negative return on equity of 360.57% and a net margin of 16.50%. Equities research analysts predict that Organon & Co. will post 4.29 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Monday, May 13th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date was Friday, May 10th. Organon & Co.’s dividend payout ratio is currently 27.38%.

About Organon & Co.

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, 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.