Garden State Investment Advisory Services LLC Takes $203,000 Position in Organon & Co. (NYSE:OGN)

Garden State Investment Advisory Services LLC purchased a new position in Organon & Co. (NYSE:OGN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,590 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. LSV Asset Management increased its position in shares of Organon & Co. by 47.3% in the second quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock valued at $136,843,000 after acquiring an additional 2,121,940 shares during the period. Weiss Asset Management LP bought a new stake in shares of Organon & Co. in the third quarter worth about $32,966,000. AQR Capital Management LLC increased its holdings in Organon & Co. by 39.8% during the 2nd quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock valued at $71,905,000 after purchasing an additional 988,336 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Organon & Co. by 303.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,242,135 shares of the company’s stock valued at $23,762,000 after purchasing an additional 934,505 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Organon & Co. by 35.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company’s stock worth $63,570,000 after buying an additional 875,128 shares during the period. Institutional investors own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

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

Organon & Co. Stock Down 0.4 %

NYSE:OGN opened at $15.29 on Friday. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. The firm’s 50-day moving average price is $16.46 and its 200-day moving average price is $19.19. The company has a market capitalization of $3.94 billion, a PE ratio of 3.03, a P/E/G ratio of 0.73 and a beta of 0.75. Organon & Co. has a 1-year low of $12.62 and a 1-year high of $23.10.

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 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 the consensus estimate of $1.56 billion. During the same period in the prior year, the business posted $0.78 EPS. Organon & Co.’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities analysts predict that Organon & Co. will post 3.89 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date of this dividend was Tuesday, November 12th. 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.