River Global Investors LLP Boosts Stake in Organon & Co. (NYSE:OGN)

River Global Investors LLP lifted its holdings in shares of Organon & Co. (NYSE:OGN) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,775 shares of the company’s stock after purchasing an additional 2,711 shares during the quarter. River Global Investors LLP’s holdings in Organon & Co. were worth $1,124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OGN. Vanguard Group Inc. lifted its position in shares of Organon & Co. by 0.6% during the first quarter. Vanguard Group Inc. now owns 30,789,850 shares of the company’s stock worth $578,849,000 after purchasing an additional 192,613 shares in the last quarter. LSV Asset Management increased its position in shares of Organon & Co. by 47.3% during the second quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock worth $136,843,000 after acquiring an additional 2,121,940 shares during the period. AQR Capital Management LLC boosted its holdings in Organon & Co. by 39.8% in the second quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock valued at $71,905,000 after purchasing an additional 988,336 shares during the period. Deprince Race & Zollo Inc. boosted its stake in shares of Organon & Co. by 6.8% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,421,703 shares of the company’s stock valued at $70,829,000 after buying an additional 216,907 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Organon & Co. by 23.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,407,915 shares of the company’s stock worth $49,843,000 after acquiring an additional 463,216 shares in the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on OGN shares. 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 report on Friday, September 6th. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th.

Organon & Co. Price Performance

OGN stock traded down $0.08 on Friday, reaching $16.04. 2,570,213 shares of the company’s stock were exchanged, compared to its average volume of 2,735,779. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $23.10. The company has a quick ratio of 1.17, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The stock has a fifty day moving average of $18.76 and a 200-day moving average of $20.05. The firm has a market cap of $4.13 billion, a PE ratio of 3.18, a P/E/G ratio of 0.73 and a beta of 0.84.

Organon & Co. (NYSE:OGN) last announced its quarterly 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). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the business earned $0.78 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, equities analysts predict that Organon & Co. will post 3.97 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.98%. The ex-dividend date of this dividend is Tuesday, November 12th. Organon & Co.’s dividend payout ratio is currently 22.22%.

About Organon & Co.

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.