Garden State Investment Advisory Services LLC Purchases New Shares in Organon & Co. (NYSE:OGN)

Garden State Investment Advisory Services LLC purchased a new stake in Organon & Co. (NYSE:OGN) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,016 shares of the company’s stock, valued at approximately $211,000.

Other institutional investors have also made changes to their positions in the company. Friedenthal Financial bought a new position in shares of Organon & Co. in the second quarter valued at about $769,000. Public Sector Pension Investment Board raised its holdings 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 during the last quarter. Beddow Capital Management Inc. raised its holdings in Organon & Co. by 38.8% during the 3rd quarter. Beddow Capital Management Inc. now owns 306,675 shares of the company’s stock worth $5,867,000 after purchasing an additional 85,775 shares during the last quarter. Cerity Partners LLC raised its holdings in Organon & Co. by 94.0% during the 3rd quarter. Cerity Partners LLC now owns 667,340 shares of the company’s stock worth $12,766,000 after purchasing an additional 323,308 shares during the last quarter. Finally, Foundry Partners LLC bought a new stake in Organon & Co. during the 3rd quarter worth about $7,642,000. 77.43% of the stock is owned by institutional investors.

Organon & Co. Stock Performance

Shares of OGN stock opened at $15.58 on Tuesday. 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 stock has a market cap of $4.01 billion, a PE ratio of 3.09, a price-to-earnings-growth ratio of 0.74 and a beta of 0.75. The stock has a 50-day moving average of $17.18 and a 200-day moving average of $19.59. Organon & Co. has a one year low of $10.84 and a one year high of $23.10.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The company had revenue of $1.58 billion during 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%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. As a group, sell-side analysts expect that Organon & Co. will post 3.89 earnings per share for the current 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 paid a $0.28 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.19%. Organon & Co.’s dividend payout ratio (DPR) is presently 22.22%.

Analyst Ratings Changes

Several analysts have weighed in on OGN shares. JPMorgan Chase & Co. cut 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 raised 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.