Organon & Co. (NYSE:OGN) Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers lifted its stake in Organon & Co. (NYSE:OGN) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,599 shares of the company’s stock after buying an additional 1,378 shares during the period. Cetera Investment Advisers’ holdings in Organon & Co. were worth $1,213,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in OGN. Brandes Investment Partners LP raised its holdings in Organon & Co. by 5.7% during the second quarter. Brandes Investment Partners LP now owns 204,722 shares of the company’s stock worth $4,236,000 after purchasing an additional 11,051 shares during the last quarter. William B. Walkup & Associates Inc. purchased a new stake in Organon & Co. during the second quarter worth approximately $31,000. Susquehanna Fundamental Investments LLC raised its position in Organon & Co. by 28.4% in the second quarter. Susquehanna Fundamental Investments LLC now owns 429,370 shares of the company’s stock valued at $8,888,000 after purchasing an additional 95,093 shares during the period. Lighthouse Investment Partners LLC purchased a new position in Organon & Co. in the 2nd quarter worth approximately $4,968,000. Finally, Deprince Race & Zollo Inc. increased its stake in Organon & Co. by 6.8% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,421,703 shares of the company’s stock worth $70,829,000 after buying an additional 216,907 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OGN has been the topic of several research analyst reports. JPMorgan Chase & Co. cut shares of 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 research report on Friday, September 6th. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th.

Organon & Co. Price Performance

NYSE OGN opened at $17.95 on Thursday. The stock’s 50-day moving average is $20.07 and its two-hundred day moving average is $20.15. 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 current ratio of 1.64 and a quick ratio of 1.17. The firm has a market cap of $4.61 billion, a P/E ratio of 4.39, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.04. The business 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%. Organon & Co.’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the company posted $1.31 earnings per share. On average, analysts anticipate that Organon & Co. will post 4.15 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The business 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. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.24%. Organon & Co.’s payout ratio is presently 27.38%.

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.