Thrivent Financial for Lutherans Has $3.87 Million Stock Holdings in Organon & Co. (NYSE:OGN)

Thrivent Financial for Lutherans reduced its stake in Organon & Co. (NYSE:OGN) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 202,190 shares of the company’s stock after selling 11,300 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Organon & Co. worth $3,868,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Natixis Advisors LLC lifted its holdings in Organon & Co. by 7.9% in the third quarter. Natixis Advisors LLC now owns 48,215 shares of the company’s stock valued at $922,000 after buying an additional 3,520 shares during the period. Royce & Associates LP raised its position in shares of Organon & Co. by 4.6% in the 3rd quarter. Royce & Associates LP now owns 703,094 shares of the company’s stock worth $13,450,000 after acquiring an additional 30,750 shares in the last quarter. KBC Group NV lifted its stake in shares of Organon & Co. by 19.5% in the 3rd quarter. KBC Group NV now owns 7,744 shares of the company’s stock valued at $148,000 after purchasing an additional 1,263 shares during the period. MQS Management LLC bought a new stake in shares of Organon & Co. during the 3rd quarter valued at about $202,000. Finally, Victory Capital Management Inc. grew its stake in Organon & Co. by 127.3% during the third quarter. Victory Capital Management Inc. now owns 183,298 shares of the company’s stock worth $3,506,000 after purchasing an additional 102,663 shares during the period. 77.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut Organon & Co. from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $18.00 to $20.00 in a report on Friday, September 6th. Evercore ISI raised shares of Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th.

Organon & Co. Trading Up 2.6 %

Shares of Organon & Co. stock opened at $15.28 on Monday. The stock has a market capitalization of $3.94 billion, a PE ratio of 3.03, a price-to-earnings-growth ratio of 0.70 and a beta of 0.84. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $23.10. The stock has a 50 day moving average price of $17.61 and a two-hundred day moving average price of $19.77. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.03). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. As a group, equities analysts anticipate that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.28 per share. The ex-dividend date is Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 7.33%. Organon & Co.’s dividend payout ratio (DPR) is currently 22.22%.

Organon & Co. 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.