Organon & Co. $OGN Stock Acquired by Profund Advisors LLC

Key Points

• Profund Advisors LLC increased its Organon & Co. position by 360.8% in the third quarter, acquiring 93,228 additional shares for a total of 119,069 shares worth approximately $1.63 million.
• Organon reported quarterly EPS of $0.94, exceeding estimates of $0.88, while revenue of $1.57 billion fell slightly short of expectations. The company declared a quarterly dividend of $0.02 per share, representing a 0.6% yield.
• Shares opened at $13.82, near their 12-month high, but analysts maintain a consensus “Reduce” rating with a target price of $11.40; institutional investors own 77.43% of the stock.

Profund Advisors LLC increased its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 360.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,069 shares of the company's stock after purchasing an additional 93,228 shares during the period. Profund Advisors LLC's holdings in Organon & Co. were worth $1,631,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Kahn Brothers Group Inc. purchased a new stake in Organon & Co. during the 2nd quarter worth about $36,159,000. First Trust Advisors LP increased its holdings in shares of Organon & Co. by 78.1% in the 1st quarter. First Trust Advisors LP now owns 3,227,320 shares of the company's stock valued at $19,332,000 after acquiring an additional 1,415,239 shares during the last quarter. Groupe la Francaise purchased a new position in shares of Organon & Co. in the 2nd quarter valued at about $10,499,000. Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Organon & Co. during the 2nd quarter worth about $9,007,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Organon & Co. during the 2nd quarter worth about $6,904,000. Hedge funds and other institutional investors own 77.43% of the company's stock.

Organon & Co. Trading Down 0.1%

NYSE OGN opened at $13.82 on Tuesday. The company has a debt-to-equity ratio of 8.43, a current ratio of 1.95 and a quick ratio of 1.44. The firm's fifty day moving average price is $13.74 and its 200 day moving average price is $11.50. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.28 and a beta of 1.55. Organon & Co. has a 12 month low of $5.69 and a 12 month high of $13.85.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.88 by $0.06. Organon & Co. had a net margin of 3.41% and a return on equity of 88.97%. The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.58 billion. On average, sell-side analysts expect that Organon & Co. will post 3.24 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Monday, November 9th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. Organon & Co.'s dividend payout ratio (DPR) is presently 10.53%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Organon & Co. from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, October 8th. Five research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $11.40.

Organon & Co. Company Profile

Organon & Co is a global health care company focused on improving the health and quality of life of women throughout their lives. The company develops, manufactures and commercializes prescription medicines and other health care products, with operations serving patients and health care providers in markets around the world.

Organon's women's health portfolio includes contraceptive products such as Nexplanon and NuvaRing, as well as medicines and technologies related to fertility, pregnancy and other reproductive health needs.

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