Wilmington Savings Fund Society FSB Invests $185,000 in Organon & Co. (NYSE:OGN)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Organon & Co. (NYSE:OGN) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,662 shares of the company’s stock, valued at approximately $185,000.

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

Analyst Ratings Changes

OGN has been the topic of a number of research reports. JPMorgan Chase & Co. downgraded Organon & Co. from a “neutral” rating to an “underweight” rating and boosted their price objective for the stock 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 report on Wednesday, September 18th.

Organon & Co. Stock Performance

Shares of NYSE OGN opened at $14.51 on Thursday. The stock’s fifty day simple moving average is $16.25 and its 200 day simple moving average is $19.05. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 2.88, a PEG ratio of 0.81 and a beta of 0.75. Organon & Co. has a 52-week low of $13.14 and a 52-week high of $23.10. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73.

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). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period last year, the business earned $0.78 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts forecast that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 7.72%. The ex-dividend date of this dividend was Tuesday, November 12th. Organon & Co.’s dividend payout ratio (DPR) is currently 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.