Sound Income Strategies LLC Purchases 39,173 Shares of Organon & Co. (NYSE:OGN)

Sound Income Strategies LLC raised its position in shares of Organon & Co. (NYSE:OGN) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 611,380 shares of the company’s stock after acquiring an additional 39,173 shares during the period. Sound Income Strategies LLC owned approximately 0.24% of Organon & Co. worth $11,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently 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. bought a new stake in Organon & Co. in the second quarter worth about $31,000. Fidelis Capital Partners LLC purchased a new position in shares of Organon & Co. during the first quarter valued at approximately $43,000. Tompkins Financial Corp grew its stake in shares of Organon & Co. by 450.7% during the first quarter. Tompkins Financial Corp now owns 2,412 shares of the company’s stock valued at $45,000 after buying an additional 1,974 shares during the last quarter. Finally, Atlas Capital Advisors LLC lifted its stake in shares of Organon & Co. by 2,236.5% during the 2nd quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock worth $46,000 after acquiring an additional 2,147 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Stock Up 0.1 %

NYSE:OGN traded up $0.02 during mid-day trading on Friday, reaching $18.00. The company’s stock had a trading volume of 1,841,061 shares, compared to its average volume of 2,181,096. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $23.10. The company has a quick ratio of 1.17, a current ratio of 1.64 and a debt-to-equity ratio of 60.05. The firm has a market capitalization of $4.63 billion, a PE ratio of 4.63, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84. The stock has a fifty day moving average of $20.15 and a 200-day moving average of $20.16.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. Organon & Co.’s revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts forecast that Organon & Co. will post 4.15 earnings per share for the current year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 16th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a yield of 6.22%. Organon & Co.’s dividend payout ratio is presently 28.79%.

Wall Street Analyst Weigh In

Several brokerages have commented on OGN. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. lowered shares of Organon & Co. from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $18.00 to $20.00 in a report on Friday, September 6th.

Organon & Co. Company 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.