Hancock Whitney Corp Purchases 4,637 Shares of Organon & Co. (NYSE:OGN)

Hancock Whitney Corp increased its holdings in Organon & Co. (NYSE:OGN) by 10.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,182 shares of the company’s stock after purchasing an additional 4,637 shares during the period. Hancock Whitney Corp’s holdings in Organon & Co. were worth $903,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Organon & Co. during the 3rd quarter valued at approximately $649,000. Cerity Partners LLC grew its position in Organon & Co. by 94.0% in the 3rd quarter. Cerity Partners LLC now owns 667,340 shares of the company’s stock valued at $12,766,000 after acquiring an additional 323,308 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Organon & Co. by 35.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company’s stock worth $63,570,000 after purchasing an additional 875,128 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its stake in Organon & Co. by 6.4% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,262,379 shares of the company’s stock worth $43,279,000 after buying an additional 136,457 shares during the period. Finally, Foundry Partners LLC purchased a new position in shares of Organon & Co. during the third quarter worth approximately $7,642,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Organon & Co. Stock Performance

OGN stock opened at $15.80 on Wednesday. Organon & Co. has a one year low of $10.84 and a one year high of $23.10. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 3.13, a PEG ratio of 0.76 and a beta of 0.84. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The firm has a 50-day simple moving average of $17.52 and a two-hundred day simple moving average of $19.74.

Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.03). The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. Organon & Co.’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business earned $0.78 earnings per share. On average, equities analysts forecast that Organon & Co. will post 3.89 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 7.09%. The ex-dividend date is Tuesday, November 12th. Organon & Co.’s dividend payout ratio is currently 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.