KBC Group NV Grows Stake in Organon & Co. (NYSE:OGN)

KBC Group NV lifted its holdings in Organon & Co. (NYSE:OGN) by 19.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,744 shares of the company’s stock after buying an additional 1,263 shares during the period. KBC Group NV’s holdings in Organon & Co. were worth $148,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of OGN. Versant Capital Management Inc grew its stake in shares of Organon & Co. by 200.2% during the second quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock valued at $25,000 after buying an additional 805 shares during the last quarter. William B. Walkup & Associates Inc. acquired a new position in shares of Organon & Co. in the 2nd quarter valued at about $31,000. Atlas Capital Advisors LLC raised its position in shares of Organon & Co. by 2,236.5% in the second quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock worth $46,000 after acquiring an additional 2,147 shares during the period. Abich Financial Wealth Management LLC grew its stake in Organon & Co. by 5,646.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after acquiring an additional 2,315 shares during the period. Finally, Rothschild Investment LLC purchased a new position in Organon & Co. in the 2nd quarter valued at $54,000. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Price Performance

Organon & Co. stock opened at $14.91 on Friday. The stock has a market capitalization of $3.84 billion, a PE ratio of 2.96, a price-to-earnings-growth ratio of 0.68 and a beta of 0.84. The business has a 50 day simple moving average of $17.71 and a 200-day simple moving average of $19.81. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $23.10.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The company had revenue of $1.58 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $0.78 earnings per share. Equities analysts predict that Organon & Co. will post 3.89 earnings per share for the current year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid 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%.

Analysts Set New Price Targets

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

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.