Foundry Partners LLC Takes Position in Organon & Co. (NYSE:OGN)

Foundry Partners LLC purchased a new position in Organon & Co. (NYSE:OGN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 399,494 shares of the company’s stock, valued at approximately $7,642,000. Foundry Partners LLC owned about 0.16% of Organon & Co. at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in OGN. Landscape Capital Management L.L.C. bought a new position in Organon & Co. in the 3rd quarter worth about $420,000. Advisors Asset Management Inc. raised its stake in Organon & Co. by 3.1% in the third quarter. Advisors Asset Management Inc. now owns 660,564 shares of the company’s stock worth $12,637,000 after buying an additional 19,658 shares in the last quarter. Commerce Bank boosted its position in Organon & Co. by 5.5% during the 3rd quarter. Commerce Bank now owns 12,168 shares of the company’s stock valued at $233,000 after acquiring an additional 637 shares in the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Organon & Co. in the 3rd quarter valued at $25,000. Finally, Beddow Capital Management Inc. lifted its stake in shares of 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. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Performance

OGN opened at $14.73 on Thursday. The firm has a fifty day moving average price of $17.82 and a 200 day moving average price of $19.85. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $23.10. The stock has a market cap of $3.79 billion, a P/E ratio of 2.92, a P/E/G ratio of 0.68 and a beta of 0.84.

Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, October 31st. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.03). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The company had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the business earned $0.78 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts anticipate that Organon & Co. will post 3.89 earnings per share for the current year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued 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 dividend yield of 7.61%. Organon & Co.’s payout ratio is currently 22.22%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on OGN. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. lowered 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 research report 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.