Lewis Asset Management LLC Takes $213,000 Position in Organon & Co. (NYSE:OGN)

Lewis Asset Management LLC purchased a new position in shares of Organon & Co. (NYSE:OGN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,136 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also bought and sold shares of OGN. Vanguard Group Inc. raised its holdings in shares of Organon & Co. by 0.6% in the first quarter. Vanguard Group Inc. now owns 30,789,850 shares of the company’s stock valued at $578,849,000 after purchasing an additional 192,613 shares during the last quarter. LSV Asset Management grew its position in Organon & Co. by 47.3% in the 2nd quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock worth $136,843,000 after purchasing an additional 2,121,940 shares in the last quarter. AQR Capital Management LLC grew its position in Organon & Co. by 39.8% in the 2nd 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. Deprince Race & Zollo Inc. increased its stake in Organon & Co. by 6.8% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,421,703 shares of the company’s stock valued at $70,829,000 after buying an additional 216,907 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Organon & Co. by 23.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,407,915 shares of the company’s stock worth $49,843,000 after buying an additional 463,216 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Stock Up 2.0 %

Organon & Co. stock opened at $16.12 on Friday. The firm has a 50 day moving average price of $18.89 and a 200-day moving average price of $20.06. The company has a quick ratio of 1.17, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $23.10. The company has a market capitalization of $4.15 billion, a P/E ratio of 3.20, a P/E/G ratio of 0.76 and a beta of 0.84.

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 net margin of 20.30% and a return on equity of 644.70%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, equities analysts predict that Organon & Co. will post 4.04 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently disclosed 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 6.95%. The ex-dividend date is Tuesday, November 12th. Organon & Co.’s dividend payout ratio (DPR) is presently 22.22%.

Analysts Set New Price Targets

A number of analysts recently commented on OGN shares. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. lowered Organon & Co. from a “neutral” rating to an “underweight” rating and raised their target price for the company from $18.00 to $20.00 in a research 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.