Organon & Co. (NYSE:OGN) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its stake in Organon & Co. (NYSE:OGN) by 6.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,250 shares of the company’s stock after buying an additional 4,250 shares during the quarter. Handelsbanken Fonder AB’s holdings in Organon & Co. were worth $1,306,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of OGN. Versant Capital Management Inc raised its stake in shares of Organon & Co. by 200.2% during the second 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. William B. Walkup & Associates Inc. acquired a new stake in Organon & Co. during the 2nd quarter valued at $31,000. Atlas Capital Advisors LLC increased its stake in Organon & Co. by 2,236.5% during the 2nd quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock worth $46,000 after buying an additional 2,147 shares during the period. Fidelis Capital Partners LLC acquired a new position in Organon & Co. in the 1st quarter worth $43,000. Finally, Tompkins Financial Corp boosted its position in Organon & Co. by 450.7% in the 1st quarter. Tompkins Financial Corp now owns 2,412 shares of the company’s stock valued at $45,000 after buying an additional 1,974 shares during the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Performance

OGN stock opened at $18.02 on Friday. The stock’s 50 day simple moving average is $20.15 and its 200 day simple moving average is $20.15. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $23.10. The firm has a market cap of $4.64 billion, a P/E ratio of 4.63, a P/E/G ratio of 0.79 and a beta of 0.84. The company has a current ratio of 1.64, a quick ratio of 1.17 and a debt-to-equity ratio of 60.05.

Organon & Co. (NYSE:OGN) last released 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 firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm earned $1.31 earnings per share. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities research analysts predict that Organon & Co. will post 4.15 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 16th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a yield of 6.22%. Organon & Co.’s dividend payout ratio is currently 28.79%.

Analyst Upgrades and Downgrades

OGN has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered Organon & Co. from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $18.00 to $20.00 in a research report on Friday, September 6th. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a report on Wednesday, September 18th.

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.