Organon & Co. (NYSE:OGN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in Organon & Co. (NYSE:OGN - Free Report) by 7.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 633,330 shares of the company's stock after selling 51,627 shares during the period. JPMorgan Chase & Co. owned approximately 0.25% of Organon & Co. worth $12,116,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mercer Global Advisors Inc. ADV increased its holdings in Organon & Co. by 1.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 31,086 shares of the company's stock valued at $674,000 after buying an additional 546 shares in the last quarter. Sippican Capital Advisors increased its stake in shares of Organon & Co. by 4.3% during the 3rd quarter. Sippican Capital Advisors now owns 15,230 shares of the company's stock worth $291,000 after purchasing an additional 627 shares in the last quarter. Commerce Bank increased its stake in shares of Organon & Co. by 5.5% during the 3rd quarter. Commerce Bank now owns 12,168 shares of the company's stock worth $233,000 after purchasing an additional 637 shares in the last quarter. Graypoint LLC increased its stake in shares of Organon & Co. by 6.2% during the 3rd quarter. Graypoint LLC now owns 14,555 shares of the company's stock worth $278,000 after purchasing an additional 853 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its stake in shares of Organon & Co. by 4.0% during the 2nd quarter. Evergreen Capital Management LLC now owns 30,830 shares of the company's stock worth $638,000 after purchasing an additional 1,189 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Trading Down 0.7 %

OGN stock traded down $0.11 during midday trading on Friday, hitting $15.89. The stock had a trading volume of 4,068,705 shares, compared to its average volume of 3,222,351. The firm has a market cap of $4.09 billion, a PE ratio of 3.15, a price-to-earnings-growth ratio of 0.81 and a beta of 0.76. 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. has a 12-month low of $13.87 and a 12-month high of $23.10. The company's 50-day moving average price is $15.36 and its 200 day moving average price is $18.37.

Organon & Co. (NYSE:OGN - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.03). The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The firm's revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, equities research analysts predict that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 7.05%. Organon & Co.'s payout ratio is 22.22%.

Analysts Set New Price Targets

Separately, Evercore ISI raised shares of Organon & Co. to a "strong-buy" rating in a research note on Wednesday, September 18th.

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, 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.