Wellington Management Group LLP Acquires New Holdings in Organon & Co. (NYSE:OGN)

Wellington Management Group LLP bought a new position in Organon & Co. (NYSE:OGN) in the third quarter, HoldingsChannel.com reports. The fund bought 22,858 shares of the company’s stock, valued at approximately $437,000.

Other hedge funds have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its holdings in Organon & Co. by 1.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 31,086 shares of the company’s stock valued at $674,000 after acquiring an additional 546 shares during the period. Ballentine Partners LLC increased its position in shares of Organon & Co. by 3.0% during the 2nd quarter. Ballentine Partners LLC now owns 19,105 shares of the company’s stock valued at $395,000 after purchasing an additional 552 shares during the last quarter. Sippican Capital Advisors lifted its stake in shares of Organon & Co. by 4.3% in the 3rd quarter. Sippican Capital Advisors now owns 15,230 shares of the company’s stock worth $291,000 after purchasing an additional 627 shares during the period. Commerce Bank boosted its holdings in shares of Organon & Co. by 5.5% in the third quarter. Commerce Bank now owns 12,168 shares of the company’s stock worth $233,000 after buying an additional 637 shares during the last quarter. Finally, Signaturefd LLC grew its position in Organon & Co. by 6.6% during the second quarter. Signaturefd LLC now owns 11,308 shares of the company’s stock valued at $234,000 after buying an additional 698 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Up 1.0 %

Shares of OGN stock opened at $14.58 on Friday. 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. has a one year low of $13.40 and a one year high of $23.10. The company’s fifty day moving average price is $16.12 and its 200-day moving average price is $18.97. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 2.89, a PEG ratio of 0.81 and a beta of 0.75.

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

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were issued a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 7.68%. Organon & Co.’s dividend payout ratio is presently 22.22%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. cut Organon & Co. from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $18.00 to $20.00 in a 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.