Rhumbline Advisers Has $10.85 Million Stock Holdings in Organon & Co. (NYSE:OGN)

Rhumbline Advisers raised its holdings in Organon & Co. (NYSE:OGN) by 3.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 461,380 shares of the company’s stock after acquiring an additional 14,110 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Organon & Co. worth $10,852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Shields Capital Management LLC bought a new stake in shares of Organon & Co. in the 4th quarter valued at $27,000. Belpointe Asset Management LLC bought a new stake in shares of Organon & Co. in the 4th quarter valued at $28,000. Tanglewood Legacy Advisors LLC bought a new stake in shares of Organon & Co. in the 4th quarter valued at $33,000. Sentry Investment Management LLC bought a new stake in shares of Organon & Co. in the 1st quarter valued at $39,000. Finally, Ellevest Inc. boosted its stake in shares of Organon & Co. by 91.2% in the 1st quarter. Ellevest Inc. now owns 1,994 shares of the company’s stock valued at $47,000 after purchasing an additional 951 shares during the last quarter. 77.08% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Stock Up 0.8 %

Shares of NYSE OGN opened at $22.14 on Friday. The firm has a market cap of $5.66 billion, a PE ratio of 7.51, a P/E/G ratio of 0.70 and a beta of 0.81. Organon & Co. has a 12-month low of $18.87 and a 12-month high of $32.43. The company’s fifty day simple moving average is $21.59 and its 200 day simple moving average is $22.19.

Organon & Co. (NYSE:OGN) last issued its earnings results on Tuesday, August 8th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.34. Organon & Co. had a net margin of 12.22% and a negative return on equity of 142.40%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. Organon & Co.’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that Organon & Co. will post 4.29 earnings per share for the current year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Friday, August 18th will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, August 17th. This represents a $1.12 annualized dividend and a yield of 5.06%. Organon & Co.’s payout ratio is 37.97%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley increased their target price on shares of Organon & Co. from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 9th.

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/Implanon, 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.