Cerity Partners LLC Makes New Investment in Organon & Co. (NYSE:OGN)

Cerity Partners LLC bought a new position in Organon & Co. (NYSE:OGN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 346,712 shares of the company’s stock, valued at approximately $5,000,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in OGN. Fairfield Bush & CO. boosted its holdings in shares of Organon & Co. by 3.0% in the first quarter. Fairfield Bush & CO. now owns 16,302 shares of the company’s stock worth $569,000 after buying an additional 481 shares during the period. Natixis Advisors L.P. boosted its holdings in shares of Organon & Co. by 52.5% during the first quarter. Natixis Advisors L.P. now owns 50,428 shares of the company’s stock worth $1,761,000 after purchasing an additional 17,370 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Organon & Co. by 23.2% during the first quarter. MetLife Investment Management LLC now owns 68,987 shares of the company’s stock worth $2,410,000 after purchasing an additional 12,969 shares during the period. Panagora Asset Management Inc. boosted its holdings in shares of Organon & Co. by 95.6% during the first quarter. Panagora Asset Management Inc. now owns 39,595 shares of the company’s stock worth $1,383,000 after purchasing an additional 19,352 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Organon & Co. by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,926 shares of the company’s stock worth $1,185,000 after purchasing an additional 2,101 shares during the period. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Stock Performance

OGN stock opened at $17.80 on Wednesday. The stock has a market cap of $4.55 billion, a P/E ratio of 4.45, a P/E/G ratio of 0.84 and a beta of 0.83. The firm has a 50 day simple moving average of $17.93 and a 200 day simple moving average of $15.59. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $24.79.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.73 by $0.14. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Organon & Co. had a net margin of 16.33% and a negative return on equity of 212.00%. Sell-side analysts predict that Organon & Co. will post 4.08 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, February 26th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date of this dividend was Friday, February 23rd. Organon & Co.’s dividend payout ratio (DPR) is presently 28.00%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised their price target on shares of Organon & Co. from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th.

Insider Buying and Selling at Organon & Co.

In other Organon & Co. news, insider Kirke Weaver bought 2,720 shares of Organon & Co. stock in a transaction on Thursday, February 22nd. The stock was purchased at an average cost of $18.36 per share, for a total transaction of $49,939.20. Following the completion of the purchase, the insider now directly owns 15,181 shares of the company’s stock, valued at $278,723.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.17% of the company’s stock.

Organon & Co. 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.