Exchange Traded Concepts LLC Cuts Position in Organon & Co. (NYSE:OGN)

Exchange Traded Concepts LLC reduced its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 70.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 48,186 shares of the company's stock after selling 114,421 shares during the period. Exchange Traded Concepts LLC's holdings in Organon & Co. were worth $719,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Weiss Asset Management LP purchased a new stake in Organon & Co. during the 3rd quarter valued at about $32,966,000. Jacobs Levy Equity Management Inc. boosted its holdings in Organon & Co. by 303.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,242,135 shares of the company's stock valued at $23,762,000 after acquiring an additional 934,505 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Organon & Co. by 35.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company's stock valued at $63,570,000 after acquiring an additional 875,128 shares during the period. Philip James Wealth Mangement LLC bought a new stake in Organon & Co. during the 3rd quarter valued at $15,386,000. Finally, Foundry Partners LLC bought a new stake in Organon & Co. during the 3rd quarter valued at $7,642,000. 77.43% of the stock is owned by institutional investors.

Organon & Co. Trading Up 0.7 %

NYSE:OGN traded up $0.12 during mid-day trading on Thursday, reaching $15.96. 330,211 shares of the company's stock traded hands, compared to its average volume of 2,466,603. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 3.17, a PEG ratio of 0.87 and a beta of 0.76. The company has a 50 day moving average price of $15.44 and a 200-day moving average price of $17.98. Organon & Co. has a 12-month low of $13.87 and a 12-month high of $23.10. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.03). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The business's revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. On average, sell-side analysts predict that Organon & Co. will post 3.82 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $21.33.

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.