PNC Financial Services Group Inc. Has $997,000 Holdings in Organon & Co. $OGN

PNC Financial Services Group Inc. decreased its holdings in Organon & Co. (NYSE:OGN) by 51.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 93,306 shares of the company’s stock after selling 99,869 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Organon & Co. were worth $997,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hantz Financial Services Inc. raised its stake in Organon & Co. by 293.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,674 shares of the company’s stock valued at $26,000 after acquiring an additional 1,995 shares during the period. SouthState Corp increased its holdings in shares of Organon & Co. by 1,857.0% in the second 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. Allworth Financial LP raised its position in shares of Organon & Co. by 65.9% in the second quarter. Allworth Financial LP now owns 4,501 shares of the company’s stock valued at $44,000 after purchasing an additional 1,788 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Organon & Co. by 70.2% in the third quarter. Smartleaf Asset Management LLC now owns 5,113 shares of the company’s stock valued at $53,000 after purchasing an additional 2,109 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Organon & Co. by 22.4% during the 3rd quarter. GAMMA Investing LLC now owns 6,910 shares of the company’s stock worth $74,000 after buying an additional 1,265 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Stock Up 3.1%

Shares of OGN opened at $8.17 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.20 and a debt-to-equity ratio of 9.69. Organon & Co. has a 12 month low of $6.18 and a 12 month high of $16.18. The firm’s 50 day moving average is $7.97 and its 200-day moving average is $8.50. The stock has a market capitalization of $2.12 billion, a PE ratio of 11.50, a P/E/G ratio of 0.72 and a beta of 0.58.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.10). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.52 billion. Organon & Co. had a return on equity of 123.06% and a net margin of 3.01%.The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. Equities research analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Monday, February 23rd will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, February 23rd. Organon & Co.’s payout ratio is 11.27%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on OGN shares. Morgan Stanley decreased their price target on shares of Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 11th. Barclays upped their target price on Organon & Co. from $7.50 to $8.00 and gave the company an “underweight” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered their target price on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 11th. Wall Street Zen downgraded Organon & Co. from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Zacks Research lowered Organon & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $8.50.

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.