Balyasny Asset Management LLC Boosts Holdings in Organon & Co. (NYSE:OGN)

Balyasny Asset Management LLC lifted its stake in Organon & Co. (NYSE:OGN – Get Rating) by 464.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,324,302 shares of the company’s stock after purchasing an additional 1,089,533 shares during the quarter. Balyasny Asset Management LLC owned 0.52% of Organon & Co. worth $30,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. CoreCap Advisors LLC purchased a new position in shares of Organon & Co. in the 2nd quarter worth about $27,000. Coston McIsaac & Partners purchased a new position in Organon & Co. in the 2nd quarter worth about $33,000. Ellevest Inc. raised its position in Organon & Co. by 311.9% in the 3rd quarter. Ellevest Inc. now owns 1,145 shares of the company’s stock worth $27,000 after buying an additional 867 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new position in Organon & Co. in the 3rd quarter worth about $28,000. Finally, Sandy Spring Bank raised its position in Organon & Co. by 1,928.6% in the 3rd quarter. Sandy Spring Bank now owns 1,420 shares of the company’s stock worth $34,000 after buying an additional 1,350 shares during the last quarter. Hedge funds and other institutional investors own 75.74% of the company’s stock.

Organon & Co. Stock Performance

Shares of NYSE:OGN opened at $21.95 on Wednesday. Organon & Co. has a fifty-two week low of $21.76 and a fifty-two week high of $39.09. The business has a 50-day simple moving average of $28.13 and a two-hundred day simple moving average of $26.87. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 6.11, a price-to-earnings-growth ratio of 0.91 and a beta of 0.80.

Organon & Co. (NYSE:OGN – Get Rating) last issued its earnings results on Thursday, February 16th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Organon & Co. had a negative return on equity of 118.21% and a net margin of 14.85%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm posted $1.37 EPS. Organon & Co.’s quarterly revenue was down 7.4% compared to the same quarter last year. As a group, research analysts predict that Organon & Co. will post 4.43 earnings per share for the current year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Monday, February 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.10%. The ex-dividend date is Friday, February 24th. Organon & Co.’s payout ratio is currently 31.20%.

About Organon & Co.

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Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.