Charles Schwab Investment Management Inc. Boosts Stock Holdings in Organon & Co. (NYSE:OGN)

Charles Schwab Investment Management Inc. increased its position in shares of Organon & Co. (NYSE:OGN) by 35.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,323,051 shares of the company’s stock after buying an additional 875,128 shares during the period. Charles Schwab Investment Management Inc. owned 1.29% of Organon & Co. worth $63,570,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OGN. Versant Capital Management Inc grew its stake in Organon & Co. by 200.2% in the 2nd 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. Prospera Private Wealth LLC acquired a new stake in shares of Organon & Co. in the third quarter valued at about $25,000. William B. Walkup & Associates Inc. purchased a new stake in shares of Organon & Co. during the second quarter worth about $31,000. Abich Financial Wealth Management LLC raised its position in shares of Organon & Co. by 5,646.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock worth $45,000 after purchasing an additional 2,315 shares during the last quarter. Finally, Atlas Capital Advisors LLC raised its position in shares of Organon & Co. by 2,236.5% during the 2nd quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock worth $46,000 after purchasing an additional 2,147 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. lowered Organon & Co. from a “neutral” rating to an “underweight” rating and boosted their price objective for the stock from $18.00 to $20.00 in a research note on Friday, September 6th. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th.

Organon & Co. Stock Down 0.7 %

OGN stock opened at $15.87 on Friday. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 3.15, a PEG ratio of 0.75 and a beta of 0.84. The firm has a 50-day moving average of $17.26 and a two-hundred day moving average of $19.65. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $23.10. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data 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). The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. Organon & Co.’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 earnings per share. As a group, analysts forecast that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date is Tuesday, November 12th. Organon & Co.’s dividend payout ratio is presently 22.22%.

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.