Acorn Financial Advisory Services Inc. ADV Invests $743,000 in Organon & Co. (NYSE:OGN)

Acorn Financial Advisory Services Inc. ADV bought a new position in shares of Organon & Co. (NYSE:OGN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 38,833 shares of the company’s stock, valued at approximately $743,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OGN. Versant Capital Management Inc lifted 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 worth $25,000 after buying an additional 805 shares during the period. William B. Walkup & Associates Inc. purchased a new position in Organon & Co. in the second quarter valued at approximately $31,000. Atlas Capital Advisors LLC lifted 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 buying an additional 2,147 shares in the last quarter. Abich Financial Wealth Management LLC grew its stake 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 worth $45,000 after buying an additional 2,315 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in shares of Organon & Co. in the second quarter worth $54,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Down 0.5 %

Organon & Co. stock traded down $0.08 during midday trading on Friday, hitting $16.04. 2,570,213 shares of the stock were exchanged, compared to its average volume of 2,735,779. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $23.10. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.17. The firm has a market cap of $4.13 billion, a P/E ratio of 3.18, a P/E/G ratio of 0.73 and a beta of 0.84. The company has a 50 day moving average price of $18.76 and a two-hundred day moving average price of $20.04.

Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, October 31st. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. On average, sell-side analysts predict that Organon & Co. will post 3.97 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 6.98%. The ex-dividend date is Tuesday, November 12th. Organon & Co.’s dividend payout ratio is currently 22.22%.

Analysts Set New Price Targets

OGN has been the subject of a number of research reports. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and upped their price target for the stock from $18.00 to $20.00 in a research report on Friday, September 6th. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th.

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.