TD Asset Management Inc Makes New Investment in Organon & Co. (NYSE:OGN)

TD Asset Management Inc bought a new stake in Organon & Co. (NYSE:OGN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,200 shares of the company’s stock, valued at approximately $729,000.

A number of other large investors also recently made changes to their positions in OGN. Versant Capital Management Inc lifted its holdings in Organon & Co. by 200.2% during the second quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock worth $25,000 after acquiring an additional 805 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of Organon & Co. during the 1st quarter worth $43,000. Tompkins Financial Corp boosted its holdings in shares of Organon & Co. by 450.7% in the 1st quarter. Tompkins Financial Corp now owns 2,412 shares of the company’s stock worth $45,000 after buying an additional 1,974 shares during the last quarter. Atlas Capital Advisors LLC grew 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 buying an additional 2,147 shares during the period. Finally, Hexagon Capital Partners LLC increased its holdings in Organon & Co. by 123.9% during the first quarter. Hexagon Capital Partners LLC now owns 2,628 shares of the company’s stock worth $49,000 after buying an additional 1,454 shares during the last quarter. 77.43% of the stock is owned by institutional investors.

Organon & Co. Price Performance

OGN opened at $20.47 on Monday. The firm has a 50-day moving average price of $21.02 and a 200-day moving average price of $20.03. The company has a quick ratio of 1.17, a current ratio of 1.64 and a debt-to-equity ratio of 60.05. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $23.10. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 5.00, a PEG ratio of 0.89 and a beta of 0.85.

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

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date was Friday, August 16th. Organon & Co.’s payout ratio is 27.38%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. downgraded Organon & Co. from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $18.00 to $20.00 in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.17.

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.