Kovitz Investment Group Partners LLC Acquires 11,119 Shares of Organon & Co. (NYSE:OGN)

Kovitz Investment Group Partners LLC increased its holdings in Organon & Co. (NYSE:OGN) by 93.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,027 shares of the company’s stock after purchasing an additional 11,119 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Organon & Co. were worth $441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in OGN. Prospera Private Wealth LLC bought a new stake in shares of Organon & Co. during the third quarter valued at approximately $25,000. William B. Walkup & Associates Inc. bought a new stake in Organon & Co. in the 2nd quarter valued at $31,000. Abich Financial Wealth Management LLC grew its position in shares of Organon & Co. by 5,646.3% during the third quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after purchasing an additional 2,315 shares in the last quarter. Atlas Capital Advisors LLC increased its holdings in shares of Organon & Co. by 2,236.5% in the second quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock worth $46,000 after purchasing an additional 2,147 shares during the last quarter. Finally, Trust Co. of Vermont increased its stake in Organon & Co. by 109.4% in the 3rd quarter. Trust Co. of Vermont now owns 2,626 shares of the company’s stock worth $50,000 after acquiring an additional 1,372 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Stock Performance

NYSE:OGN opened at $15.37 on Friday. The firm has a market capitalization of $3.96 billion, a PE ratio of 3.05, a PEG ratio of 0.71 and a beta of 0.75. The stock’s fifty day moving average is $16.52 and its 200 day moving average is $19.23. Organon & Co. has a fifty-two week low of $11.31 and a fifty-two 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.

Organon & Co. (NYSE:OGN) last released 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 return on equity of 644.70% and a net margin of 20.30%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the business posted $0.78 EPS. Organon & Co.’s revenue was up 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Organon & Co. will post 3.89 earnings per share for the current year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.29%. Organon & Co.’s dividend payout ratio is 22.22%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OGN. JPMorgan Chase & Co. downgraded 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 note on Friday, September 6th. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th.

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.