Sanctuary Advisors LLC Invests $5.56 Million in Organon & Co. (NYSE:OGN)

Sanctuary Advisors LLC bought a new position in shares of Organon & Co. (NYSE:OGN) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 268,590 shares of the company’s stock, valued at approximately $5,560,000.

Several other hedge funds and other institutional investors also recently modified their holdings of OGN. Vanguard Group Inc. boosted its stake in Organon & Co. by 0.6% in the first quarter. Vanguard Group Inc. now owns 30,789,850 shares of the company’s stock valued at $578,849,000 after buying an additional 192,613 shares in the last quarter. LSV Asset Management raised its stake in Organon & Co. by 47.3% during the second quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock worth $136,843,000 after acquiring an additional 2,121,940 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Organon & Co. by 26.9% in the first quarter. Nordea Investment Management AB now owns 3,970,328 shares of the company’s stock worth $74,563,000 after acquiring an additional 841,518 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Organon & Co. by 39.8% in 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 in the last quarter. Finally, Deprince Race & Zollo Inc. grew 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 purchasing an additional 216,907 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on OGN shares. JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $18.00 to $20.00 in a research report on Friday, September 6th. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Organon & Co. presently has an average rating of “Hold” and a consensus target price of $21.00.

Organon & Co. Stock Performance

Organon & Co. stock opened at $18.29 on Friday. The business has a 50 day moving average of $20.60 and a 200-day moving average of $20.14. The company has a market capitalization of $4.70 billion, a P/E ratio of 4.47, a P/E/G ratio of 0.84 and a beta of 0.84. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $23.10. The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.04. The firm 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%. The company’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 EPS. On average, equities research analysts predict that Organon & Co. will post 4.14 earnings per share for the current year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 16th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a yield of 6.12%. Organon & Co.’s payout ratio is 27.38%.

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.