Private Advisor Group LLC Acquires 5,403 Shares of Organon & Co. (NYSE:OGN)

Private Advisor Group LLC raised its stake in shares of Organon & Co. (NYSE:OGN) by 21.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 30,721 shares of the company’s stock after acquiring an additional 5,403 shares during the period. Private Advisor Group LLC’s holdings in Organon & Co. were worth $636,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Versant Capital Management Inc lifted its holdings in 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 acquiring an additional 805 shares during the period. Fidelis Capital Partners LLC purchased a new position in shares of Organon & Co. in the first quarter worth approximately $43,000. Tompkins Financial Corp grew its position in Organon & Co. by 450.7% during the first quarter. Tompkins Financial Corp now owns 2,412 shares of the company’s stock valued at $45,000 after buying an additional 1,974 shares during the period. Atlas Capital Advisors LLC increased its holdings 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 valued at $46,000 after buying an additional 2,147 shares during the last quarter. Finally, Hexagon Capital Partners LLC raised its position in Organon & Co. by 123.9% in the first quarter. Hexagon Capital Partners LLC now owns 2,628 shares of the company’s stock worth $49,000 after acquiring an additional 1,454 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Trading Down 1.6 %

Organon & Co. stock opened at $20.55 on Wednesday. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $23.10. The firm’s 50 day moving average price is $21.05 and its 200-day moving average price is $20.07. The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17. The stock has a market cap of $5.29 billion, a P/E ratio of 5.02, a PEG ratio of 0.89 and a beta of 0.85.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.04. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. Organon & Co.’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.31 earnings per share. On average, equities analysts predict that Organon & Co. will post 4.14 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were issued a $0.28 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.12 annualized dividend and a dividend yield of 5.45%. Organon & Co.’s dividend payout ratio (DPR) is presently 27.38%.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. downgraded Organon & Co. from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $18.00 to $20.00 in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Organon & Co. presently has an average rating of “Hold” and an average target price of $22.17.

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.