Advisors Asset Management Inc. Raises Stock Position in Organon & Co. (NYSE:OGN)

Advisors Asset Management Inc. boosted its position in Organon & Co. (NYSE:OGN) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 660,564 shares of the company’s stock after purchasing an additional 19,658 shares during the period. Advisors Asset Management Inc. owned about 0.26% of Organon & Co. worth $12,637,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OGN. Versant Capital Management Inc increased its position in shares of Organon & Co. by 200.2% in the second quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock valued at $25,000 after buying an additional 805 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in Organon & Co. in the 3rd quarter valued at about $25,000. William B. Walkup & Associates Inc. purchased a new position in Organon & Co. during the 2nd quarter valued at about $31,000. Abich Financial Wealth Management LLC increased its holdings in Organon & Co. by 5,646.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after acquiring an additional 2,315 shares in the last quarter. Finally, Atlas Capital Advisors LLC raised its position in Organon & Co. by 2,236.5% during the second quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock worth $46,000 after acquiring an additional 2,147 shares during the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OGN. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $18.00 to $20.00 in a research note on Friday, September 6th. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th.

Organon & Co. Stock Performance

Shares of NYSE OGN opened at $14.59 on Wednesday. The company has a 50-day simple moving average of $17.93 and a 200-day simple moving average of $19.89. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. The company has a market cap of $3.76 billion, a PE ratio of 2.89, a price-to-earnings-growth ratio of 0.70 and a beta of 0.84. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $23.10.

Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, October 31st. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. On average, equities analysts anticipate that Organon & Co. will post 3.89 earnings per share for the current year.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.68%. The ex-dividend date is Tuesday, November 12th. Organon & Co.’s dividend payout ratio is currently 22.22%.

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.