Simplicity Wealth LLC Buys 10,332 Shares of Organon & Co. (NYSE:OGN)

Simplicity Wealth LLC lifted its stake in shares of Organon & Co. (NYSE:OGN) by 86.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 22,341 shares of the company’s stock after acquiring an additional 10,332 shares during the period. Simplicity Wealth LLC’s holdings in Organon & Co. were worth $427,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in OGN. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Organon & Co. by 250.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 80,128 shares of the company’s stock worth $1,155,000 after acquiring an additional 57,255 shares during the last quarter. Syon Capital LLC bought a new stake in shares of Organon & Co. during the 4th quarter worth $182,000. Los Angeles Capital Management LLC bought a new stake in shares of Organon & Co. during the 1st quarter worth $3,184,000. GAMMA Investing LLC lifted its holdings in shares of Organon & Co. by 29.5% during the 1st quarter. GAMMA Investing LLC now owns 3,387 shares of the company’s stock worth $64,000 after acquiring an additional 772 shares during the last quarter. Finally, Atlas Brown Inc. lifted its holdings in shares of Organon & Co. by 33.2% during the 1st quarter. Atlas Brown Inc. now owns 26,001 shares of the company’s stock worth $489,000 after acquiring an additional 6,487 shares during the last quarter. 77.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Organon & Co. from a “neutral” rating to an “underweight” rating and boosted their price target for the stock from $18.00 to $20.00 in a research note on Friday, September 6th. Evercore ISI raised shares of Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th.

Organon & Co. Stock Performance

Organon & Co. stock opened at $18.00 on Monday. 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 company has a market capitalization of $4.63 billion, a PE ratio of 4.63, a P/E/G ratio of 0.79 and a beta of 0.84. The firm has a fifty day simple moving average of $20.15 and a two-hundred day simple moving average of $20.17. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $23.10.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm posted $1.31 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Research analysts expect that Organon & Co. will post 4.15 EPS for the current year.

Organon & Co. Announces Dividend

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

Organon & Co. 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.