Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Organon & Co. (NYSE:OGN)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Organon & Co. (NYSE:OGN) by 8.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,506 shares of the company’s stock after buying an additional 4,298 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Organon & Co. were worth $1,062,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. LSV Asset Management boosted its position in 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 last quarter. Wedge Capital Management L L P NC purchased a new position in Organon & Co. in the second quarter valued at $33,573,000. AQR Capital Management LLC lifted its stake in Organon & Co. by 39.8% during the second 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 last quarter. Charles Schwab Investment Management Inc. raised its holdings in Organon & Co. by 35.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company’s stock worth $63,570,000 after purchasing an additional 875,128 shares in the last quarter. Finally, Philip James Wealth Mangement LLC purchased a new stake in shares of Organon & Co. during the 3rd quarter worth approximately $15,386,000. 77.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on OGN shares. JPMorgan Chase & Co. downgraded shares of Organon & Co. from a “neutral” rating to an “underweight” rating and increased their target price for the company from $18.00 to $20.00 in a research report on Friday, September 6th. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a report on Wednesday, September 18th.

Organon & Co. Stock Up 1.2 %

OGN stock opened at $15.55 on Friday. The company has a fifty day moving average price of $16.95 and a 200 day moving average price of $19.48. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $23.10. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 3.08, a price-to-earnings-growth ratio of 0.73 and a beta of 0.75. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21.

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

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.28 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 7.20%. Organon & Co.’s dividend payout ratio (DPR) is currently 22.22%.

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.