Algert Global LLC Lowers Holdings in Organon & Co. (NYSE:OGN)

Algert Global LLC cut its holdings in shares of Organon & Co. (NYSE:OGN) by 35.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 114,763 shares of the company’s stock after selling 61,790 shares during the period. Algert Global LLC’s holdings in Organon & Co. were worth $2,195,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LSV Asset Management increased 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 during the period. AQR Capital Management LLC increased its holdings in Organon & Co. by 39.8% during the 2nd quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock worth $71,905,000 after purchasing an additional 988,336 shares during the period. Deprince Race & Zollo Inc. increased its holdings 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 purchasing an additional 216,907 shares during the period. Charles Schwab Investment Management Inc. raised its position in Organon & Co. by 35.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company’s stock valued at $63,570,000 after purchasing an additional 875,128 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Organon & Co. by 23.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,407,915 shares of the company’s stock worth $49,843,000 after buying an additional 463,216 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OGN. Evercore ISI raised shares of 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 report on Friday, September 6th.

Organon & Co. Price Performance

Shares of NYSE OGN opened at $15.80 on Wednesday. The stock’s 50-day simple moving average is $17.52 and its 200-day simple moving average is $19.74. The firm has a market capitalization of $4.07 billion, a PE ratio of 3.13, a price-to-earnings-growth ratio of 0.72 and a beta of 0.84. 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 17.73, a quick ratio of 1.21 and a current ratio of 1.70.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS. As a group, equities research analysts forecast that Organon & Co. will post 3.89 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business 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 $0.28 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 7.09%. Organon & Co.’s dividend payout ratio (DPR) is presently 22.22%.

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, 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.