Delap Wealth Advisory LLC Boosts Stock Position in Organon & Co. (NYSE:OGN)

Delap Wealth Advisory LLC grew its stake in shares of Organon & Co. (NYSE:OGN) by 37.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,397 shares of the company’s stock after acquiring an additional 4,731 shares during the period. Delap Wealth Advisory LLC’s holdings in Organon & Co. were worth $360,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in OGN. LSV Asset Management lifted its position in shares of Organon & Co. by 47.3% during the second quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock worth $136,843,000 after acquiring an additional 2,121,940 shares in the last quarter. Norges Bank purchased a new stake in shares of Organon & Co. in the fourth quarter worth $26,321,000. Wedge Capital Management L L P NC purchased a new stake in shares of Organon & Co. in the second quarter worth $33,573,000. Allianz Asset Management GmbH raised its position in shares of Organon & Co. by 156.5% in the fourth quarter. Allianz Asset Management GmbH now owns 1,900,554 shares of the company’s stock worth $27,406,000 after buying an additional 1,159,519 shares in the last quarter. Finally, Kahn Brothers Group Inc. raised its position in shares of Organon & Co. by 3,242.4% in the first quarter. Kahn Brothers Group Inc. now owns 1,180,204 shares of the company’s stock worth $22,188,000 after buying an additional 1,144,894 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Down 3.4 %

Shares of NYSE:OGN opened at $19.49 on Friday. The stock’s 50-day moving average price is $21.00 and its 200-day moving average price is $20.09. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $23.10. The stock has a market capitalization of $5.01 billion, a P/E ratio of 4.77, a price-to-earnings-growth ratio of 0.89 and a beta of 0.85. 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. (NYSE:OGN) last posted its earnings results 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 company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. Organon & Co.’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the firm earned $1.31 earnings per share. On average, equities analysts anticipate that Organon & Co. will post 4.14 earnings per share for the current year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors 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 annualized dividend and a dividend yield of 5.75%. Organon & Co.’s payout ratio is presently 27.38%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. downgraded Organon & Co. from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $18.00 to $20.00 in a research report on Friday, September 6th.

Organon & Co. Company 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.