Mirova Acquires Shares of 1,268 Organon & Co. (NYSE:OGN)

Mirova acquired a new stake in Organon & Co. (NYSE:OGN) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,268 shares of the company’s stock, valued at approximately $30,000.

Several other hedge funds also recently added to or reduced their stakes in OGN. EverSource Wealth Advisors LLC increased its position in shares of Organon & Co. by 442.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,080 shares of the company’s stock worth $25,000 after acquiring an additional 881 shares during the last quarter. Wellington Shields Capital Management LLC purchased a new stake in shares of Organon & Co. during the fourth quarter worth about $27,000. Belpointe Asset Management LLC purchased a new stake in shares of Organon & Co. during the fourth quarter worth about $28,000. Tanglewood Legacy Advisors LLC purchased a new stake in shares of Organon & Co. during the fourth quarter worth about $33,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of Organon & Co. during the first quarter worth about $39,000. 77.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Organon & Co. Stock Performance

NYSE OGN opened at $19.29 on Monday. Organon & Co. has a twelve month low of $18.87 and a twelve month high of $32.43. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 6.54, a PEG ratio of 0.62 and a beta of 0.80. The firm’s 50 day moving average price is $21.57 and its two-hundred day moving average price is $21.97.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $1.31 earnings per share 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 firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the company posted $1.25 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, research analysts forecast that Organon & Co. will post 4.29 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Friday, August 18th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend is Thursday, August 17th. Organon & Co.’s dividend payout ratio is currently 37.97%.

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.