Private Management Group Inc. Acquires 34,026 Shares of Organon & Co. (NYSE:OGN)

Private Management Group Inc. boosted its holdings in Organon & Co. (NYSE:OGN) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,893,868 shares of the company’s stock after purchasing an additional 34,026 shares during the quarter. Organon & Co. accounts for about 1.3% of Private Management Group Inc.’s portfolio, making the stock its 16th largest holding. Private Management Group Inc. owned approximately 0.74% of Organon & Co. worth $36,230,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. LSV Asset Management boosted its stake in shares of Organon & Co. by 47.3% in the second quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock valued at $136,843,000 after buying an additional 2,121,940 shares during the period. Wedge Capital Management L L P NC bought a new position in Organon & Co. in the 2nd quarter valued at about $33,573,000. Kahn Brothers Group Inc. raised its position in Organon & Co. by 3,242.4% during the first quarter. Kahn Brothers Group Inc. now owns 1,180,204 shares of the company’s stock valued at $22,188,000 after purchasing an additional 1,144,894 shares in the last quarter. Boston Partners acquired a new position in shares of Organon & Co. during the 1st quarter worth $19,306,000. Finally, AQR Capital Management LLC grew its holdings in shares of Organon & Co. by 39.8% during the 2nd quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock valued at $71,905,000 after purchasing an additional 988,336 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on OGN. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and upped their price target for the company from $18.00 to $20.00 in a research report on Friday, September 6th.

Organon & Co. Trading Down 3.8 %

NYSE:OGN traded down $0.71 on Friday, reaching $18.07. 2,702,952 shares of the stock traded hands, compared to its average volume of 2,182,331. The company has a current ratio of 1.64, a quick ratio of 1.17 and a debt-to-equity ratio of 60.05. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $23.10. The company’s 50 day moving average is $19.38 and its 200-day moving average is $20.10. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 4.65, a price-to-earnings-growth ratio of 0.81 and a beta of 0.84.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.04. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. Organon & Co.’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.31 earnings per share. Equities research analysts anticipate that Organon & Co. will post 4.04 EPS 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. Stockholders 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 dividend yield of 6.20%. The ex-dividend date of this dividend is Tuesday, November 12th. Organon & Co.’s dividend payout ratio is 28.79%.

Organon & Co. Company 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.