Philip James Wealth Mangement LLC Acquires Shares of 804,262 Organon & Co. (NYSE:OGN)

Philip James Wealth Mangement LLC bought a new position in shares of Organon & Co. (NYSE:OGN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 804,262 shares of the company’s stock, valued at approximately $15,386,000. Organon & Co. accounts for about 1.9% of Philip James Wealth Mangement LLC’s investment portfolio, making the stock its 8th biggest position.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in shares of Organon & Co. by 200.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock worth $25,000 after acquiring an additional 805 shares during the last quarter. William B. Walkup & Associates Inc. purchased a new stake in shares of Organon & Co. in the second quarter worth approximately $31,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Organon & Co. by 5,646.3% in the third quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after purchasing an additional 2,315 shares in the last quarter. Atlas Capital Advisors LLC boosted its position in shares of 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 during the last quarter. Finally, Trust Co. of Vermont grew its holdings in Organon & Co. by 109.4% during the third quarter. Trust Co. of Vermont now owns 2,626 shares of the company’s stock worth $50,000 after buying an additional 1,372 shares in the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Stock Performance

OGN stock traded down $0.09 during midday trading on Friday, hitting $16.03. The company’s stock had a trading volume of 186,636 shares, compared to its average volume of 2,230,179. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 3.20, a PEG ratio of 0.76 and a beta of 0.84. The company has a quick ratio of 1.17, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The stock’s 50-day moving average price is $18.89 and its 200 day moving average price is $20.06. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $23.10.

Organon & Co. (NYSE:OGN) last issued its quarterly 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). 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%. Organon & Co.’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. On average, equities analysts forecast that Organon & Co. will post 4.04 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.99%. The ex-dividend date of this dividend is Tuesday, November 12th. Organon & Co.’s dividend payout ratio is currently 22.22%.

Analyst Upgrades and Downgrades

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

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.