Wellington Management Group LLP Invests $437,000 in Organon & Co. (NYSE:OGN)

Wellington Management Group LLP bought a new position in Organon & Co. (NYSE:OGN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,858 shares of the company’s stock, valued at approximately $437,000.

A number of other hedge funds also recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV grew its position in shares of Organon & Co. by 1.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 31,086 shares of the company’s stock worth $674,000 after buying an additional 546 shares during the last quarter. Ballentine Partners LLC boosted its holdings in Organon & Co. by 3.0% in the second quarter. Ballentine Partners LLC now owns 19,105 shares of the company’s stock valued at $395,000 after acquiring an additional 552 shares in the last quarter. Sippican Capital Advisors increased its position in Organon & Co. by 4.3% during the 3rd quarter. Sippican Capital Advisors now owns 15,230 shares of the company’s stock valued at $291,000 after purchasing an additional 627 shares during the period. Commerce Bank raised its holdings in Organon & Co. by 5.5% in the 3rd quarter. Commerce Bank now owns 12,168 shares of the company’s stock worth $233,000 after purchasing an additional 637 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Organon & Co. by 6.6% in the 2nd quarter. Signaturefd LLC now owns 11,308 shares of the company’s stock worth $234,000 after buying an additional 698 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Up 1.0 %

NYSE:OGN opened at $14.58 on Friday. The firm has a market cap of $3.75 billion, a P/E ratio of 2.89, a P/E/G ratio of 0.81 and a beta of 0.75. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. Organon & Co. has a fifty-two week low of $13.40 and a fifty-two week high of $23.10. The firm has a 50-day simple moving average of $16.12 and a two-hundred day simple moving average of $18.97.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.03). The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. Organon & Co.’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $0.78 EPS. Analysts predict that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.68%. The ex-dividend date was Tuesday, November 12th. Organon & Co.’s payout ratio is currently 22.22%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OGN. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $18.00 to $20.00 in a report on Friday, September 6th. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th.

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.