Wedge Capital Management L L P NC Sells 144,619 Shares of Organon & Co. (NYSE:OGN)

Wedge Capital Management L L P NC trimmed its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 8.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,477,258 shares of the company's stock after selling 144,619 shares during the period. Wedge Capital Management L L P NC owned approximately 0.57% of Organon & Co. worth $28,260,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of Organon & Co. by 200.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,207 shares of the company's stock worth $25,000 after acquiring an additional 805 shares during the period. William B. Walkup & Associates Inc. bought a new stake in shares of Organon & Co. in the 2nd quarter worth approximately $31,000. Fidelis Capital Partners LLC bought a new stake in shares of Organon & Co. in the 1st quarter worth approximately $43,000. Tompkins Financial Corp lifted its position in shares of Organon & Co. by 450.7% in the 1st quarter. Tompkins Financial Corp now owns 2,412 shares of the company's stock worth $45,000 after acquiring an additional 1,974 shares during the period. Finally, Atlas Capital Advisors LLC boosted its position in shares of Organon & Co. by 2,236.5% during the 2nd quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company's stock valued at $46,000 after acquiring an additional 2,147 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company's stock.

Organon & Co. Price Performance

Shares of Organon & Co. stock traded up $0.11 during mid-day trading on Monday, reaching $18.11. 1,608,329 shares of the stock were exchanged, compared to its average volume of 2,178,200. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $23.10. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 4.43, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84. The firm has a 50-day simple moving average of $20.10 and a 200 day simple moving average of $20.17. The company has a current ratio of 1.64, a quick ratio of 1.17 and a debt-to-equity ratio of 60.05.

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

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 6.19%. The ex-dividend date of this dividend was Friday, August 16th. Organon & Co.'s payout ratio is presently 27.38%.

Analysts Set New Price Targets

Several research analysts recently issued reports on OGN shares. Evercore ISI raised shares of Organon & Co. to a "strong-buy" rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. cut Organon & Co. from a "neutral" rating to an "underweight" rating and increased their target price for the stock from $18.00 to $20.00 in a report on Friday, September 6th.

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.