Los Angeles Capital Management LLC Grows Stock Holdings in Organon & Co. (NYSE:OGN)

Los Angeles Capital Management LLC boosted its holdings in shares of Organon & Co. (NYSE:OGN) by 47.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,831 shares of the company’s stock after purchasing an additional 83,510 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Organon & Co. were worth $4,971,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc raised its stake in shares of Organon & Co. by 200.2% in the second quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock valued at $25,000 after acquiring an additional 805 shares during the period. William B. Walkup & Associates Inc. purchased a new stake in shares of Organon & Co. in the second quarter valued at $31,000. Atlas Capital Advisors LLC raised its stake in shares of Organon & Co. by 2,236.5% in the second quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock valued at $46,000 after acquiring an additional 2,147 shares during the period. Abich Financial Wealth Management LLC raised its stake in shares of Organon & Co. by 5,646.3% in the third quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after acquiring an additional 2,315 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in shares of Organon & Co. in the second quarter valued at $54,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Trading Up 0.2 %

NYSE OGN opened at $16.08 on Tuesday. The company’s 50-day moving average price is $18.63 and its 200-day moving average price is $20.05. The company has a current ratio of 1.70, a quick ratio of 1.17 and a debt-to-equity ratio of 17.73. The stock has a market cap of $4.14 billion, a PE ratio of 3.19, a PEG ratio of 0.75 and a beta of 0.84. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $23.10.

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

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 6.97%. The ex-dividend date is Tuesday, November 12th. Organon & Co.’s payout ratio is 22.22%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OGN shares. JPMorgan Chase & Co. downgraded shares of Organon & Co. from a “neutral” rating to an “underweight” rating and increased their target price for the company from $18.00 to $20.00 in a research note on Friday, September 6th. Evercore ISI raised shares of Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th.

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.