Nordea Investment Management AB Acquires 2,007 Shares of Organon & Co. (NYSE:OGN)

Nordea Investment Management AB boosted its stake in shares of Organon & Co. (NYSE:OGN) by 0.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,744,297 shares of the company’s stock after acquiring an additional 2,007 shares during the quarter. Nordea Investment Management AB owned approximately 2.62% of Organon & Co. worth $101,097,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGN. Versant Capital Management Inc grew its stake in shares of Organon & Co. by 92.2% during the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock valued at $41,000 after purchasing an additional 1,324 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new position in Organon & Co. during the 3rd quarter worth $203,000. Franklin Resources Inc. boosted its position in Organon & Co. by 3.9% in the 3rd quarter. Franklin Resources Inc. now owns 344,138 shares of the company’s stock valued at $6,229,000 after buying an additional 13,029 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Organon & Co. by 10.6% in the 3rd quarter. Tidal Investments LLC now owns 76,525 shares of the company’s stock valued at $1,464,000 after buying an additional 7,330 shares during the period. Finally, Optimist Retirement Group LLC bought a new stake in shares of Organon & Co. during the third quarter worth $1,974,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analyst Ratings Changes

Separately, Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a report on Wednesday, September 18th.

Organon & Co. Trading Up 0.3 %

Shares of NYSE OGN opened at $15.49 on Tuesday. Organon & Co. has a fifty-two week low of $13.87 and a fifty-two week high of $23.10. The firm has a market capitalization of $3.99 billion, a P/E ratio of 3.07, a P/E/G ratio of 0.81 and a beta of 0.76. 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 company’s 50 day simple moving average is $15.54 and its 200 day simple moving average is $18.51.

Organon & Co. (NYSE:OGN) last issued its 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). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue was up 4.1% on a year-over-year basis. On average, analysts predict that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders 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 yield of 7.23%. The ex-dividend date of this dividend was Tuesday, November 12th. Organon & Co.’s dividend payout ratio (DPR) is currently 22.22%.

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.