Quest Partners LLC Grows Position in Organon & Co. (NYSE:OGN)

Quest Partners LLC boosted its stake in shares of Organon & Co. (NYSE:OGN) by 286.7% during the third quarter, HoldingsChannel.com reports. The firm owned 38,941 shares of the company’s stock after acquiring an additional 28,871 shares during the period. Quest Partners LLC’s holdings in Organon & Co. were worth $745,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Friedenthal Financial acquired a new position in Organon & Co. in the second quarter valued at $769,000. Vanguard Group Inc. grew its holdings in shares of Organon & Co. by 0.6% during the 1st 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 during the period. Public Sector Pension Investment Board increased its position in Organon & Co. by 8.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 565,866 shares of the company’s stock worth $11,713,000 after purchasing an additional 41,954 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in 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 period. Finally, Wedge Capital Management L L P NC acquired a new position in Organon & Co. during the second quarter valued at approximately $33,573,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Stock Performance

Organon & Co. stock opened at $14.91 on Friday. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. The firm’s fifty day moving average price is $17.71 and its 200 day moving average price is $19.81. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 2.96, a price-to-earnings-growth ratio of 0.68 and a beta of 0.84. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $23.10.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.03). The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. On average, research analysts forecast that Organon & Co. will post 3.89 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently declared 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 7.51%. The ex-dividend date is Tuesday, November 12th. Organon & Co.’s payout ratio is currently 22.22%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OGN. Evercore ISI raised shares of 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 price objective 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.