Ballentine Partners LLC Purchases 1,969 Shares of Organon & Co. (NYSE:OGN)

Ballentine Partners LLC boosted its position in Organon & Co. (NYSE:OGN) by 11.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,553 shares of the company’s stock after acquiring an additional 1,969 shares during the period. Ballentine Partners LLC’s holdings in Organon & Co. were worth $349,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OGN. Prevail Innovative Wealth Advisors LLC bought a new position in shares of Organon & Co. in the fourth quarter valued at approximately $3,336,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of Organon & Co. during the fourth quarter valued at approximately $1,850,000. New York State Teachers Retirement System increased its position in shares of Organon & Co. by 20.1% during the fourth quarter. New York State Teachers Retirement System now owns 348,226 shares of the company’s stock valued at $5,021,000 after acquiring an additional 58,321 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Organon & Co. by 417.8% during the fourth quarter. State of Alaska Department of Revenue now owns 157,249 shares of the company’s stock valued at $2,267,000 after acquiring an additional 126,882 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Organon & Co. by 156.5% during the fourth quarter. Allianz Asset Management GmbH now owns 1,900,554 shares of the company’s stock valued at $27,406,000 after acquiring an additional 1,159,519 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Performance

NYSE:OGN opened at $20.79 on Wednesday. The company has a debt-to-equity ratio of 181.35, a current ratio of 1.65 and a quick ratio of 1.15. The business has a fifty day simple moving average of $20.30 and a two-hundred day simple moving average of $17.93. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $24.08. The company has a market capitalization of $5.35 billion, a P/E ratio of 5.08, a P/E/G ratio of 0.91 and a beta of 0.86.

Organon & Co. (NYSE:OGN) last released its earnings results on Thursday, May 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.31. Organon & Co. had a negative return on equity of 360.57% and a net margin of 16.50%. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.57 billion. On average, analysts expect that Organon & Co. will post 4.3 earnings per share for the current year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Monday, May 13th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date of this dividend was Friday, May 10th. Organon & Co.’s payout ratio is currently 27.38%.

Wall Street Analysts Forecast Growth

OGN has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Piper Sandler increased their price target on Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, April 29th.

Organon & Co. Company 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.