Private Management Group Inc. Has $36.23 Million Stock Position in Organon & Co. (NYSE:OGN)

Private Management Group Inc. boosted its position in Organon & Co. (NYSE:OGN) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,893,868 shares of the company’s stock after acquiring an additional 34,026 shares during the period. Organon & Co. accounts for about 1.3% of Private Management Group Inc.’s holdings, making the stock its 16th biggest position. Private Management Group Inc.’s holdings in Organon & Co. were worth $36,230,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of Organon & Co. by 200.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock worth $25,000 after purchasing an additional 805 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new position in shares of Organon & Co. during the second quarter valued at about $31,000. Fidelis Capital Partners LLC bought a new stake in shares of Organon & Co. during the first quarter worth about $43,000. Abich Financial Wealth Management LLC raised its holdings in shares of 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 worth $45,000 after acquiring an additional 2,315 shares during the last quarter. Finally, Atlas Capital Advisors LLC lifted its position in Organon & Co. by 2,236.5% in the 2nd quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock valued at $46,000 after acquiring an additional 2,147 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Stock Performance

OGN traded down $0.71 during trading on Friday, hitting $18.07. 2,702,952 shares of the company traded hands, compared to its average volume of 2,182,331. 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 has a market cap of $4.65 billion, a P/E ratio of 4.65, a price-to-earnings-growth ratio of 0.81 and a beta of 0.84. Organon & Co. has a one year low of $10.84 and a one year high of $23.10. The stock’s fifty day moving average is $19.38 and its 200 day moving average is $20.10.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.08 by $0.04. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. Organon & Co.’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.31 earnings per share. As a group, equities analysts predict that Organon & Co. will post 4.04 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company 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 $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date of this dividend is Tuesday, November 12th. Organon & Co.’s dividend payout ratio is currently 28.79%.

Analysts Set New Price Targets

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

Organon & Co. 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.