Paloma Partners Management Co Invests $362,000 in Organon & Co. (NYSE:OGN)

Paloma Partners Management Co acquired a new position in Organon & Co. (NYSE:OGN) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 18,914 shares of the company’s stock, valued at approximately $362,000.

Other large investors also recently modified their holdings of the company. Friedenthal Financial purchased a new position in shares of Organon & Co. in the 2nd quarter worth about $769,000. Public Sector Pension Investment Board raised its holdings in shares of Organon & Co. by 8.0% in 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 period. Beddow Capital Management Inc. raised its holdings in shares of Organon & Co. by 38.8% in 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 period. Cerity Partners LLC grew its stake in shares of Organon & Co. by 94.0% in the third quarter. Cerity Partners LLC now owns 667,340 shares of the company’s stock valued at $12,766,000 after buying an additional 323,308 shares in the last quarter. Finally, Foundry Partners LLC acquired a new stake in shares of Organon & Co. in the third quarter valued at about $7,642,000. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Price Performance

Shares of NYSE OGN opened at $15.35 on Thursday. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $23.10. The business has a 50 day moving average price of $17.02 and a two-hundred day moving average price of $19.51. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The firm has a market cap of $3.95 billion, a PE ratio of 3.05, a price-to-earnings-growth ratio of 0.73 and a beta of 0.75.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.56 billion. During the same quarter last year, the business earned $0.78 EPS. Organon & Co.’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts expect that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 7.30%. Organon & Co.’s dividend payout ratio (DPR) is presently 22.22%.

Analyst Upgrades and Downgrades

OGN has been the subject of a number of recent research reports. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lowered Organon & Co. from a “neutral” rating to an “underweight” rating and increased their target price for the company 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.