Jacobs Levy Equity Management Inc. Acquires 934,505 Shares of Organon & Co. (NYSE:OGN)

Jacobs Levy Equity Management Inc. increased its stake in Organon & Co. (NYSE:OGN) by 303.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,242,135 shares of the company’s stock after purchasing an additional 934,505 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.48% of Organon & Co. worth $23,762,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc increased its stake 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 valued at $25,000 after purchasing an additional 805 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Organon & Co. during the third quarter worth about $25,000. William B. Walkup & Associates Inc. acquired a new position in shares of Organon & Co. in the 2nd quarter worth approximately $31,000. Abich Financial Wealth Management LLC lifted its holdings in Organon & Co. by 5,646.3% in the third quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after buying an additional 2,315 shares during the period. Finally, Atlas Capital Advisors LLC boosted its position in shares of Organon & Co. by 2,236.5% during the 2nd quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock valued at $46,000 after purchasing an additional 2,147 shares in the last quarter. 77.43% of the stock is owned by institutional investors.

Organon & Co. Stock Up 0.6 %

OGN opened at $15.66 on Wednesday. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 3.11, a PEG ratio of 0.73 and a beta of 0.75. The company’s 50-day moving average price is $17.10 and its two-hundred day moving average price is $19.55. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $23.10.

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). The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. As a group, equities analysts expect that Organon & Co. will post 3.89 earnings per share for the current year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be given 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 7.15%. Organon & Co.’s payout ratio is 22.22%.

Analyst Upgrades and Downgrades

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