Algert Global LLC Decreases Stock Holdings in Organon & Co. (NYSE:OGN)

Algert Global LLC cut its stake in Organon & Co. (NYSE:OGN) by 35.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,763 shares of the company’s stock after selling 61,790 shares during the period. Algert Global LLC’s holdings in Organon & Co. were worth $2,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in OGN. LSV Asset Management grew its holdings in Organon & Co. by 47.3% in the 2nd quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock valued at $136,843,000 after buying an additional 2,121,940 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Organon & Co. by 39.8% during the 2nd quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock valued at $71,905,000 after acquiring an additional 988,336 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of Organon & Co. by 6.8% in the second quarter. Deprince Race & Zollo Inc. now owns 3,421,703 shares of the company’s stock valued at $70,829,000 after purchasing an additional 216,907 shares during the period. Charles Schwab Investment Management Inc. increased its position in Organon & Co. by 35.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company’s stock worth $63,570,000 after purchasing an additional 875,128 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Organon & Co. by 23.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,407,915 shares of the company’s stock worth $49,843,000 after purchasing an additional 463,216 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.

Wall Street Analysts Forecast Growth

OGN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. downgraded shares of Organon & Co. from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $18.00 to $20.00 in a report on Friday, September 6th. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th.

Organon & Co. Trading Down 2.3 %

Shares of OGN stock opened at $15.80 on Wednesday. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $23.10. The firm has a market cap of $4.07 billion, a PE ratio of 3.13, a price-to-earnings-growth ratio of 0.72 and a beta of 0.84. The company has a 50-day moving average of $17.52 and a two-hundred day moving average of $19.74. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the business posted $0.78 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, analysts predict that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.09%. Organon & Co.’s payout ratio is presently 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.