MQS Management LLC Buys New Holdings in Organon & Co. (NYSE:OGN)

MQS Management LLC bought a new stake in shares of Organon & Co. (NYSE:OGN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,556 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in OGN. Sei Investments Co. raised its stake in Organon & Co. by 31.1% during the 1st quarter. Sei Investments Co. now owns 570,912 shares of the company’s stock valued at $10,733,000 after purchasing an additional 135,373 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Organon & Co. by 3.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 277,929 shares of the company’s stock valued at $5,225,000 after purchasing an additional 9,899 shares during the period. SageView Advisory Group LLC bought a new stake in Organon & Co. in the 1st quarter worth approximately $184,000. M&G Plc bought a new stake in Organon & Co. in the 1st quarter worth approximately $3,222,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Organon & Co. by 20.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 427,575 shares of the company’s stock worth $7,910,000 after acquiring an additional 71,258 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

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

Organon & Co. Stock Performance

NYSE OGN opened at $15.03 on Friday. The company has a market cap of $3.87 billion, a P/E ratio of 2.98, a P/E/G ratio of 0.73 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 business’s 50 day moving average price is $18.14 and its 200-day moving average price is $19.93. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $23.10.

Organon & Co. (NYSE:OGN) last released 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 company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. Sell-side analysts predict that Organon & Co. will post 3.89 earnings per share for the current year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend yield of 7.45%. The ex-dividend date of this dividend is Tuesday, November 12th. Organon & Co.’s dividend payout ratio is currently 22.22%.

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.