Foresight Capital Management Advisors Inc. Invests $1.01 Million in Organon & Co. (NYSE:OGN)

Foresight Capital Management Advisors Inc. acquired a new stake in shares of Organon & Co. (NYSE:OGN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 52,949 shares of the company’s stock, valued at approximately $1,013,000.

Several other hedge funds also recently bought and sold shares of OGN. LSV Asset Management grew its stake in Organon & Co. by 47.3% during the second 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. Wedge Capital Management L L P NC bought a new stake in Organon & Co. during the second quarter valued at approximately $33,573,000. Kahn Brothers Group Inc. lifted its position in Organon & Co. by 3,242.4% during the first quarter. Kahn Brothers Group Inc. now owns 1,180,204 shares of the company’s stock valued at $22,188,000 after purchasing an additional 1,144,894 shares during the last quarter. Boston Partners bought a new stake in Organon & Co. during the first quarter valued at approximately $19,306,000. Finally, AQR Capital Management LLC lifted its position in Organon & Co. by 39.8% during 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 last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Trading Down 0.9 %

Shares of OGN traded down $0.17 during mid-day trading on Monday, reaching $18.12. The company’s stock had a trading volume of 2,854,729 shares, compared to its average volume of 2,186,669. The stock has a market cap of $4.66 billion, a PE ratio of 4.47, a P/E/G ratio of 0.82 and a beta of 0.84. The company has a current ratio of 1.64, a quick ratio of 1.17 and a debt-to-equity ratio of 60.05. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $23.10. The company’s fifty day moving average price is $20.52 and its two-hundred day moving average price is $20.17.

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

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 16th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date was Friday, August 16th. Organon & Co.’s payout ratio is currently 27.38%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OGN. JPMorgan Chase & Co. lowered shares of 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. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Organon & Co. presently has a consensus rating of “Hold” and a consensus price target of $21.00.

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.