13,135 Shares in Organon & Co. (NYSE:OGN) Purchased by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC purchased a new position in Organon & Co. (NYSE:OGN) in the third quarter, Holdings Channel reports. The fund purchased 13,135 shares of the company’s stock, valued at approximately $251,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew 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 worth $578,849,000 after purchasing an additional 192,613 shares in the last quarter. LSV Asset Management grew its stake in Organon & Co. by 47.3% in the second 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. Nordea Investment Management AB grew its stake in Organon & Co. by 26.9% in the first quarter. Nordea Investment Management AB now owns 3,970,328 shares of the company’s stock worth $74,563,000 after purchasing an additional 841,518 shares in the last quarter. AQR Capital Management LLC grew its stake in Organon & Co. by 39.8% in the second 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. Finally, Deprince Race & Zollo Inc. grew its stake in Organon & Co. by 6.8% in the second quarter. Deprince Race & Zollo Inc. now owns 3,421,703 shares of the company’s stock worth $70,829,000 after purchasing an additional 216,907 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OGN. Evercore ISI raised shares of 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 report on Friday, September 6th.

Organon & Co. Stock Performance

Shares of NYSE OGN opened at $17.22 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.64 and a debt-to-equity ratio of 60.05. The firm’s 50-day moving average price is $19.83 and its two-hundred day moving average price is $20.12. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $23.10. The stock has a market capitalization of $4.43 billion, a P/E ratio of 4.43, a P/E/G ratio of 0.77 and a beta of 0.84.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.31 earnings per share. As a group, sell-side analysts forecast that Organon & Co. will post 4.12 earnings per share for the current year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.50%. Organon & Co.’s dividend payout ratio (DPR) is presently 28.79%.

About Organon & Co.

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.