M&G Plc Has $3.88 Million Stake in Organon & Co. (NYSE:OGN)

M&G Plc lifted its stake in shares of Organon & Co. (NYSE:OGN) by 4.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 204,162 shares of the company’s stock after acquiring an additional 8,514 shares during the period. M&G Plc’s holdings in Organon & Co. were worth $3,879,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of OGN. Van ECK Associates Corp raised its holdings in shares of Organon & Co. by 32.2% during the third quarter. Van ECK Associates Corp now owns 276,732 shares of the company’s stock valued at $5,294,000 after purchasing an additional 67,451 shares during the period. Private Management Group Inc. increased its position in Organon & Co. by 1.8% in the 3rd quarter. Private Management Group Inc. now owns 1,893,868 shares of the company’s stock valued at $36,230,000 after buying an additional 34,026 shares in the last quarter. Sippican Capital Advisors raised its stake in Organon & Co. by 4.3% during the 3rd quarter. Sippican Capital Advisors now owns 15,230 shares of the company’s stock worth $291,000 after buying an additional 627 shares during the period. Measured Wealth Private Client Group LLC boosted its holdings in Organon & Co. by 36.4% in the third quarter. Measured Wealth Private Client Group LLC now owns 21,137 shares of the company’s stock worth $404,000 after acquiring an additional 5,643 shares in the last quarter. Finally, Abich Financial Wealth Management LLC grew its stake in Organon & Co. by 5,646.3% in the third quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after acquiring an additional 2,315 shares during the period. 77.43% of the stock is owned by institutional investors.

Organon & Co. Stock Performance

Shares of OGN opened at $16.04 on Friday. The firm has a market capitalization of $4.13 billion, a P/E ratio of 3.18, a P/E/G ratio of 0.73 and a beta of 0.84. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $23.10. The stock has a 50 day moving average price of $18.89 and a two-hundred day moving average price of $20.06. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.17 and a current ratio of 1.70.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.03). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the company posted $0.78 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities analysts forecast that Organon & Co. will post 3.97 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.98%. The ex-dividend date of this dividend is Tuesday, November 12th. Organon & Co.’s payout ratio is currently 22.22%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OGN. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. lowered shares of Organon & Co. from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $18.00 to $20.00 in a research note 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.