Geode Capital Management LLC Increases Stock Holdings in Organon & Co. (NYSE:OGN)

Geode Capital Management LLC raised its position in shares of Organon & Co. (NYSE:OGN) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,248,108 shares of the company’s stock after acquiring an additional 82,220 shares during the period. Geode Capital Management LLC owned approximately 1.65% of Organon & Co. worth $81,288,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Organon & Co. in the 2nd quarter worth about $180,000. IMA Advisory Services Inc. bought a new stake in shares of Organon & Co. during the 2nd quarter worth approximately $1,848,000. Allspring Global Investments Holdings LLC boosted its holdings in Organon & Co. by 207.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 246,004 shares of the company’s stock valued at $5,092,000 after acquiring an additional 166,080 shares during the period. Summit Securities Group LLC bought a new position in Organon & Co. in the 2nd quarter valued at $451,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Organon & Co. by 29.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 49,964 shares of the company’s stock worth $1,034,000 after purchasing an additional 11,254 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Price Performance

OGN opened at $14.58 on Friday. 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. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. Organon & Co. has a 12-month low of $13.40 and a 12-month high of $23.10. The business’s fifty day simple moving average is $16.12 and its 200-day simple moving average is $18.97.

Organon & Co. (NYSE:OGN) last posted its 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). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the business posted $0.78 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts anticipate that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 7.68%. Organon & Co.’s dividend payout ratio (DPR) is presently 22.22%.

Analyst Upgrades and Downgrades

OGN has been the subject of a number of recent analyst reports. Evercore ISI raised shares of Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $18.00 to $20.00 in a research report on Friday, September 6th.

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.