Envestnet Asset Management Inc. Boosts Position in Organon & Co. (NYSE:OGN)

Envestnet Asset Management Inc. increased its holdings in Organon & Co. (NYSE:OGN) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,835 shares of the company’s stock after acquiring an additional 9,755 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of Organon & Co. worth $3,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Versant Capital Management Inc grew its stake in shares of Organon & Co. by 200.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock valued at $25,000 after purchasing an additional 805 shares during the period. Fidelis Capital Partners LLC purchased a new position in Organon & Co. during the 1st quarter valued at $43,000. Tompkins Financial Corp increased its stake in Organon & Co. by 450.7% in the 1st quarter. Tompkins Financial Corp now owns 2,412 shares of the company’s stock worth $45,000 after buying an additional 1,974 shares during the period. Atlas Capital Advisors LLC raised its stake in shares of Organon & Co. by 2,236.5% during the second quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock valued at $46,000 after acquiring an additional 2,147 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in shares of Organon & Co. by 123.9% during the first quarter. Hexagon Capital Partners LLC now owns 2,628 shares of the company’s stock valued at $49,000 after buying an additional 1,454 shares during the period. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Performance

NYSE OGN opened at $18.58 on Thursday. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $23.10. The business’s 50-day moving average price is $20.68 and its 200 day moving average price is $20.15. The company has a quick ratio of 1.17, a current ratio of 1.64 and a debt-to-equity ratio of 60.05. The firm has a market cap of $4.78 billion, a P/E ratio of 4.54, a P/E/G ratio of 0.87 and a beta of 0.85.

Organon & Co. (NYSE:OGN) last issued its earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm earned $1.31 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts expect that Organon & Co. will post 4.14 earnings per share for the current year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were given 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 6.03%. Organon & Co.’s dividend payout ratio is presently 27.38%.

Wall Street Analysts Forecast Growth

OGN has been the subject of several analyst reports. Evercore ISI raised shares of Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $18.00 to $20.00 in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $21.00.

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.