Delap Wealth Advisory LLC Purchases 4,731 Shares of Organon & Co. (NYSE:OGN)

Delap Wealth Advisory LLC raised its stake in Organon & Co. (NYSE:OGN) by 37.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,397 shares of the company’s stock after purchasing an additional 4,731 shares during the quarter. Delap Wealth Advisory LLC’s holdings in Organon & Co. were worth $360,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. LSV Asset Management raised 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 acquiring an additional 2,121,940 shares in the last quarter. Norges Bank bought a new stake in Organon & Co. during the 4th quarter worth $26,321,000. Wedge Capital Management L L P NC bought a new stake in Organon & Co. during the 2nd quarter worth $33,573,000. Allianz Asset Management GmbH grew its position in Organon & Co. by 156.5% during the 4th quarter. Allianz Asset Management GmbH now owns 1,900,554 shares of the company’s stock worth $27,406,000 after acquiring an additional 1,159,519 shares during the last quarter. Finally, Kahn Brothers Group Inc. grew its position in Organon & Co. by 3,242.4% during the 1st quarter. Kahn Brothers Group Inc. now owns 1,180,204 shares of the company’s stock worth $22,188,000 after acquiring an additional 1,144,894 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. downgraded Organon & Co. from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $18.00 to $20.00 in a report on Friday, September 6th.

Organon & Co. Stock Down 3.4 %

OGN stock opened at $19.49 on Friday. The stock’s 50 day simple moving average is $21.00 and its 200 day simple moving average is $20.09. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $23.10. The company has a debt-to-equity ratio of 60.05, a quick ratio of 1.17 and a current ratio of 1.64. The company has a market cap of $5.01 billion, a P/E ratio of 4.77, a price-to-earnings-growth ratio of 0.89 and a beta of 0.85.

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

Organon & Co. Dividend Announcement

The firm 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. This represents a $1.12 annualized dividend and a dividend yield of 5.75%. The ex-dividend date was Friday, August 16th. Organon & Co.’s dividend payout ratio is presently 27.38%.

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.