Cerity Partners LLC raised its position in Organon & Co. (NYSE:OGN – Free Report) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,797 shares of the company’s stock after acquiring an additional 630 shares during the quarter. Cerity Partners LLC’s holdings in Organon & Co. were worth $454,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Fairfield Bush & CO. increased its position in shares of Organon & Co. by 3.0% during the first quarter. Fairfield Bush & CO. now owns 16,302 shares of the company’s stock worth $569,000 after acquiring an additional 481 shares during the period. Natixis Advisors L.P. grew its stake in Organon & Co. by 52.5% during the 1st quarter. Natixis Advisors L.P. now owns 50,428 shares of the company’s stock worth $1,761,000 after purchasing an additional 17,370 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Organon & Co. by 23.2% during the 1st quarter. MetLife Investment Management LLC now owns 68,987 shares of the company’s stock worth $2,410,000 after purchasing an additional 12,969 shares during the period. Panagora Asset Management Inc. raised its position in Organon & Co. by 95.6% in the 1st quarter. Panagora Asset Management Inc. now owns 39,595 shares of the company’s stock valued at $1,383,000 after purchasing an additional 19,352 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Organon & Co. by 6.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,926 shares of the company’s stock valued at $1,185,000 after buying an additional 2,101 shares during the period. 77.08% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Morgan Stanley upped their target price on shares of Organon & Co. from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 9th.
Organon & Co. Price Performance
NYSE:OGN opened at $19.83 on Thursday. Organon & Co. has a 12 month low of $18.87 and a 12 month high of $32.43. The firm has a market capitalization of $5.07 billion, a PE ratio of 6.72, a price-to-earnings-growth ratio of 0.70 and a beta of 0.80. The business’s fifty day moving average price is $21.63 and its 200 day moving average price is $22.09.
Organon & Co. (NYSE:OGN – Get Free Report) last released its quarterly earnings data on Tuesday, August 8th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.34. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a negative return on equity of 142.40% and a net margin of 12.22%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.25 EPS. As a group, equities analysts anticipate that Organon & Co. will post 4.29 EPS for the current year.
Organon & Co. Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Friday, August 18th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 5.65%. The ex-dividend date of this dividend is Thursday, August 17th. Organon & Co.’s payout ratio is 37.97%.
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/Implanon, 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.
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