Cerity Partners LLC Purchases 323,308 Shares of Organon & Co. (NYSE:OGN)

Cerity Partners LLC raised its position in shares of Organon & Co. (NYSE:OGNFree Report) by 94.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 667,340 shares of the company’s stock after acquiring an additional 323,308 shares during the quarter. Cerity Partners LLC’s holdings in Organon & Co. were worth $12,766,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc boosted its position in Organon & Co. by 200.2% during 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 last quarter. Prospera Private Wealth LLC bought a new stake in Organon & Co. during the third quarter valued at $25,000. William B. Walkup & Associates Inc. bought a new stake in Organon & Co. during the second quarter valued at $31,000. Atlas Capital Advisors LLC boosted its position in Organon & Co. by 2,236.5% during 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 last quarter. Finally, Abich Financial Wealth Management LLC boosted its position in Organon & Co. by 5,646.3% during 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 last quarter. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Price Performance

Shares of OGN opened at $16.17 on Tuesday. The business’s fifty day moving average is $17.52 and its 200 day moving average is $19.74. Organon & Co. has a 12-month low of $10.84 and a 12-month 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. The stock has a market cap of $4.16 billion, a P/E ratio of 3.21, a P/E/G ratio of 0.72 and a beta of 0.84.

Organon & Co. (NYSE:OGNGet Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.03). The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. Sell-side analysts anticipate that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.93%. Organon & Co.’s payout ratio is presently 22.22%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and upped their price target for the company from $18.00 to $20.00 in a research report on Friday, September 6th. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th.

Check Out Our Latest Analysis on OGN

About Organon & Co.

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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