Van ECK Associates Corp Purchases 67,451 Shares of Organon & Co. (NYSE:OGN)

Van ECK Associates Corp boosted its position in Organon & Co. (NYSE:OGN) by 32.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 276,732 shares of the company’s stock after acquiring an additional 67,451 shares during the quarter. Van ECK Associates Corp’s holdings in Organon & Co. were worth $5,294,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc grew 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 worth $25,000 after buying an additional 805 shares during the last quarter. William B. Walkup & Associates Inc. bought a new stake in shares of Organon & Co. during the second quarter worth $31,000. Abich Financial Wealth Management LLC grew its stake in shares of Organon & Co. by 5,646.3% during the third quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock worth $45,000 after buying an additional 2,315 shares during the last quarter. Atlas Capital Advisors LLC grew 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 worth $46,000 after buying an additional 2,147 shares during the last quarter. Finally, Trust Co. of Vermont grew its stake in shares of Organon & Co. by 109.4% during the third quarter. Trust Co. of Vermont now owns 2,626 shares of the company’s stock worth $50,000 after buying an additional 1,372 shares during the last quarter. 77.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and boosted their target price 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. Price Performance

Shares of NYSE:OGN opened at $16.04 on Friday. The firm has a market cap of $4.13 billion, a PE ratio of 3.18, a price-to-earnings-growth ratio of 0.73 and a beta of 0.84. The firm’s fifty day moving average is $18.89 and its 200-day moving average is $20.06. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.17 and a current ratio of 1.70. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $23.10.

Organon & Co. (NYSE:OGN) last issued 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 analyst estimates of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. Organon & Co.’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. Sell-side analysts predict that Organon & Co. will post 3.97 earnings per share for the current year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.28 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 6.98%. Organon & Co.’s payout ratio is 22.22%.

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.