The Manufacturers Life Insurance Company Has $1.23 Million Stake in Organon & Co. (NYSE:OGN)

The Manufacturers Life Insurance Company decreased its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 58.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,553 shares of the company's stock after selling 84,777 shares during the period. The Manufacturers Life Insurance Company's holdings in Organon & Co. were worth $1,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new position in Organon & Co. during the first quarter valued at about $6,284,000. Friedenthal Financial bought a new stake in shares of Organon & Co. in the 2nd quarter worth approximately $769,000. Vanguard Group Inc. lifted its stake in Organon & Co. by 0.6% during the first quarter. Vanguard Group Inc. now owns 30,789,850 shares of the company's stock valued at $578,849,000 after purchasing an additional 192,613 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Organon & Co. by 23.9% during the first quarter. Janney Montgomery Scott LLC now owns 263,051 shares of the company's stock valued at $4,945,000 after purchasing an additional 50,788 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Organon & Co. during the first quarter worth approximately $3,184,000. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Trading Up 0.1 %

NYSE OGN traded up $0.02 on Friday, hitting $18.00. 1,841,061 shares of the stock were exchanged, compared to its average volume of 2,181,096. The company's 50-day moving average price is $20.15 and its two-hundred day moving average price is $20.16. The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $23.10. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 4.63, a P/E/G ratio of 0.79 and a beta of 0.84.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.04. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the business earned $1.31 EPS. The business's revenue for the quarter was down .1% on a year-over-year basis. Research analysts predict that Organon & Co. will post 4.15 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 16th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date was Friday, August 16th. Organon & Co.'s dividend payout ratio (DPR) is currently 28.79%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OGN. JPMorgan Chase & Co. downgraded Organon & Co. from a "neutral" rating to an "underweight" rating and increased their price objective for the company from $18.00 to $20.00 in a research report on Friday, September 6th. Evercore ISI raised Organon & Co. to a "strong-buy" rating in a report on Wednesday, September 18th.

Organon & Co. Company 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.