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

Jacobs Levy Equity Management Inc. lifted its holdings in shares of Organon & Co. (NYSE:OGN) by 303.8% in the third quarter, Holdings Channel.com reports. The fund 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.’s holdings in Organon & Co. were worth $23,762,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. LSV Asset Management boosted its holdings in shares of Organon & Co. by 47.3% during the 2nd 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 in the last quarter. AQR Capital Management LLC boosted its position in shares of Organon & Co. by 39.8% during the second quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock valued at $71,905,000 after buying an additional 988,336 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in shares of Organon & Co. by 6.8% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 3,421,703 shares of the company’s stock valued at $70,829,000 after acquiring an additional 216,907 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Organon & Co. by 35.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company’s stock worth $63,570,000 after purchasing an additional 875,128 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Organon & Co. by 23.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,407,915 shares of the company’s stock worth $49,843,000 after acquiring an additional 463,216 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Organon & Co. Stock Performance

Shares of NYSE OGN opened at $15.66 on Wednesday. The company has a market cap of $4.03 billion, a P/E ratio of 3.11, a P/E/G ratio of 0.73 and a beta of 0.75. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $23.10. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The firm’s fifty day moving average is $17.10 and its two-hundred day moving average is $19.55.

Organon & Co. (NYSE:OGN) last issued 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). The firm 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 company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. As a group, analysts anticipate that Organon & Co. will post 3.89 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 7.15%. The ex-dividend date of this dividend is Tuesday, November 12th. Organon & Co.’s dividend payout ratio is 22.22%.

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.