Federated Hermes Inc. Boosts Stock Position in Organon & Co. (NYSE:OGN)

Federated Hermes Inc. boosted its holdings in shares of Organon & Co. (NYSE:OGN) by 1,480,160.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,013 shares of the company’s stock after purchasing an additional 74,008 shares during the quarter. Federated Hermes Inc.’s holdings in Organon & Co. were worth $1,532,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of OGN. Versant Capital Management Inc raised its position in shares of Organon & Co. by 200.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock valued at $25,000 after buying an additional 805 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Organon & Co. during the first quarter worth approximately $43,000. Tompkins Financial Corp raised 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 purchasing an additional 1,974 shares during the period. Atlas Capital Advisors LLC raised its position 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 purchasing an additional 2,147 shares during the period. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Organon & Co. by 123.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,628 shares of the company’s stock valued at $49,000 after purchasing an additional 1,454 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. downgraded Organon & Co. from a “neutral” rating to an “underweight” rating and boosted 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.17.

Organon & Co. Stock Performance

Shares of NYSE:OGN opened at $19.49 on Friday. 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 12 month low of $10.84 and a 12 month high of $23.10. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 4.77, a PEG ratio of 0.89 and a beta of 0.85. The firm’s 50-day moving average is $21.04 and its 200 day moving average is $20.07.

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

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 16th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a yield of 5.75%. Organon & Co.’s payout ratio is 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.