Aljian Capital Management LLC Invests $196,000 in Organon & Co. (NYSE:OGN)

Aljian Capital Management LLC bought a new stake in Organon & Co. (NYSE:OGN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,234 shares of the company’s stock, valued at approximately $196,000.

A number of other hedge funds and other institutional investors have also modified their holdings of OGN. Friedenthal Financial bought a new position in shares of Organon & Co. in the 2nd quarter valued at about $769,000. Vanguard Group Inc. raised its stake in 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 buying an additional 192,613 shares during the period. Public Sector Pension Investment Board raised its stake in Organon & Co. by 8.0% in the second quarter. Public Sector Pension Investment Board now owns 565,866 shares of the company’s stock valued at $11,713,000 after buying an additional 41,954 shares during the period. O Shaughnessy Asset Management LLC lifted its position in shares of Organon & Co. by 187.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 39,758 shares of the company’s stock valued at $747,000 after buying an additional 25,909 shares during the last quarter. Finally, Wedge Capital Management L L P NC bought a new position in shares of Organon & Co. during the 2nd quarter worth approximately $33,573,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Stock Performance

NYSE:OGN opened at $15.11 on Tuesday. The stock has a 50 day simple moving average of $18.04 and a 200 day simple moving average of $19.92. The stock has a market cap of $3.89 billion, a P/E ratio of 3.00, a PEG ratio of 0.70 and a beta of 0.84. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $23.10. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN) last posted its earnings results on Thursday, October 31st. The company reported $0.87 earnings per share 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 firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the business posted $0.78 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Research analysts anticipate that Organon & Co. will post 3.89 earnings per share for the current 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 issued a dividend of $0.28 per share. The ex-dividend date is Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 7.41%. Organon & Co.’s dividend payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

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

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.