MQS Management LLC Acquires New Stake in Organon & Co. (NYSE:OGN)

MQS Management LLC acquired a new stake in shares of Organon & Co. (NYSE:OGN) in the third quarter, HoldingsChannel reports. The firm acquired 10,556 shares of the company’s stock, valued at approximately $202,000.

A number of other large investors also recently bought and sold shares of the business. Victory Capital Management Inc. boosted its holdings in Organon & Co. by 127.3% during the 3rd quarter. Victory Capital Management Inc. now owns 183,298 shares of the company’s stock valued at $3,506,000 after acquiring an additional 102,663 shares during the period. Verus Capital Partners LLC boosted its holdings in Organon & Co. by 65.4% during the 3rd quarter. Verus Capital Partners LLC now owns 39,193 shares of the company’s stock valued at $750,000 after acquiring an additional 15,501 shares during the period. Versor Investments LP boosted its holdings in Organon & Co. by 47.0% during the 3rd quarter. Versor Investments LP now owns 47,026 shares of the company’s stock valued at $900,000 after acquiring an additional 15,026 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Organon & Co. by 47.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 259,831 shares of the company’s stock valued at $4,971,000 after acquiring an additional 83,510 shares during the period. Finally, River Global Investors LLP boosted its holdings in Organon & Co. by 4.8% during the 3rd quarter. River Global Investors LLP now owns 58,775 shares of the company’s stock valued at $1,124,000 after acquiring an additional 2,711 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Analysts Set New Price Targets

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

Organon & Co. Price Performance

Shares of OGN stock opened at $15.03 on Friday. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $23.10. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 2.98, a P/E/G ratio of 0.73 and a beta of 0.84. The stock has a fifty day simple moving average of $18.14 and a two-hundred day simple moving average of $19.93. 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. (NYSE:OGN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.03). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, analysts predict that Organon & Co. will post 3.89 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 7.45%. The ex-dividend date is Tuesday, November 12th. Organon & Co.’s payout ratio is 22.22%.

Organon & Co. Company 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.