Kovitz Investment Group Partners LLC Grows Position in Organon & Co. (NYSE:OGN)

Kovitz Investment Group Partners LLC grew its holdings in Organon & Co. (NYSE:OGN) by 93.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 23,027 shares of the company’s stock after buying an additional 11,119 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Organon & Co. were worth $441,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of OGN. Mercer Global Advisors Inc. ADV increased its holdings in Organon & Co. by 1.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 31,086 shares of the company’s stock valued at $674,000 after buying an additional 546 shares during the period. Ballentine Partners LLC increased its holdings in shares of Organon & Co. by 3.0% in the 2nd quarter. Ballentine Partners LLC now owns 19,105 shares of the company’s stock valued at $395,000 after acquiring an additional 552 shares during the period. Sippican Capital Advisors raised its position in shares of Organon & Co. by 4.3% in the 3rd quarter. Sippican Capital Advisors now owns 15,230 shares of the company’s stock worth $291,000 after acquiring an additional 627 shares in the last quarter. Commerce Bank raised its position in shares of Organon & Co. by 5.5% in the 3rd quarter. Commerce Bank now owns 12,168 shares of the company’s stock worth $233,000 after acquiring an additional 637 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of Organon & Co. by 6.6% during the 2nd quarter. Signaturefd LLC now owns 11,308 shares of the company’s stock worth $234,000 after purchasing an additional 698 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Trading Down 2.0 %

Shares of NYSE:OGN opened at $15.37 on Friday. The business’s 50-day moving average is $16.52 and its 200 day moving average is $19.23. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. Organon & Co. has a 1 year low of $11.31 and a 1 year high of $23.10. The firm has a market capitalization of $3.96 billion, a P/E ratio of 3.05, a P/E/G ratio of 0.71 and a beta of 0.75.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data 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). The company had revenue of $1.58 billion for 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%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. On average, research analysts predict that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 7.29%. Organon & Co.’s payout ratio is currently 22.22%.

Wall Street Analyst Weigh In

Several research firms have issued reports on OGN. JPMorgan Chase & Co. lowered 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. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th.

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.