Gilman Hill Asset Management LLC Sells 177,746 Shares of Organon & Co. $OGN

Gilman Hill Asset Management LLC reduced its holdings in shares of Organon & Co. (NYSE:OGN) by 87.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,935 shares of the company’s stock after selling 177,746 shares during the period. Gilman Hill Asset Management LLC’s holdings in Organon & Co. were worth $277,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Hanson & Doremus Investment Management purchased a new stake in shares of Organon & Co. in the 2nd quarter worth approximately $26,000. Hantz Financial Services Inc. raised its position in shares of Organon & Co. by 293.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,674 shares of the company’s stock worth $26,000 after purchasing an additional 1,995 shares during the last quarter. Ransom Advisory Ltd bought a new position in Organon & Co. in the 1st quarter worth about $32,000. SouthState Corp grew its position in Organon & Co. by 1,857.0% during the 2nd quarter. SouthState Corp now owns 3,914 shares of the company’s stock valued at $38,000 after purchasing an additional 3,714 shares during the last quarter. Finally, Allworth Financial LP raised its holdings in Organon & Co. by 65.9% in the second quarter. Allworth Financial LP now owns 4,501 shares of the company’s stock worth $44,000 after buying an additional 1,788 shares during the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Price Performance

Shares of NYSE:OGN opened at $7.10 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.75 and a debt-to-equity ratio of 9.69. The stock has a market capitalization of $1.84 billion, a PE ratio of 3.70, a price-to-earnings-growth ratio of 1.52 and a beta of 0.57. The firm’s 50 day moving average price is $7.44 and its 200-day moving average price is $9.03. Organon & Co. has a twelve month low of $6.18 and a twelve month high of $17.23.

Organon & Co. (NYSE:OGN) last announced its earnings results on Monday, November 10th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.08. Organon & Co. had a net margin of 7.95% and a return on equity of 143.47%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the business posted $1.38 earnings per share. Equities research analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, November 20th. Organon & Co.’s dividend payout ratio is 4.17%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OGN. Weiss Ratings reiterated a “sell (d+)” rating on shares of Organon & Co. in a report on Wednesday, October 8th. Barclays started coverage on Organon & Co. in a research note on Tuesday, December 9th. They set an “underweight” rating and a $7.50 target price on the stock. JPMorgan Chase & Co. decreased their price target on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, November 11th. Morgan Stanley dropped their target price on shares of Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 11th. Finally, Piper Sandler lowered shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Organon & Co. has a consensus rating of “Reduce” and a consensus target price of $8.38.

About Organon & Co.

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.