Geode Capital Management LLC Buys 82,220 Shares of Organon & Co. (NYSE:OGN)

Geode Capital Management LLC grew its holdings in shares of Organon & Co. (NYSE:OGN - Free Report) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,248,108 shares of the company's stock after buying an additional 82,220 shares during the quarter. Geode Capital Management LLC owned 1.65% of Organon & Co. worth $81,288,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV boosted its position in shares of Organon & Co. by 1.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 31,086 shares of the company's stock valued at $674,000 after buying an additional 546 shares during the last quarter. Ballentine Partners LLC boosted its holdings in Organon & Co. by 3.0% during the second quarter. Ballentine Partners LLC now owns 19,105 shares of the company's stock worth $395,000 after purchasing an additional 552 shares during the last quarter. Sippican Capital Advisors grew its position in Organon & Co. by 4.3% in the 3rd quarter. Sippican Capital Advisors now owns 15,230 shares of the company's stock worth $291,000 after purchasing an additional 627 shares in the last quarter. Commerce Bank grew its holdings in shares of Organon & Co. by 5.5% in the third quarter. Commerce Bank now owns 12,168 shares of the company's stock valued at $233,000 after acquiring an additional 637 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Organon & Co. by 6.6% during the second quarter. Signaturefd LLC now owns 11,308 shares of the company's stock valued at $234,000 after acquiring an additional 698 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company's stock.

Analysts Set New Price Targets

OGN has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered Organon & Co. from a "neutral" rating to an "underweight" rating and raised their target price for the company from $18.00 to $20.00 in a research report on Friday, September 6th. Evercore ISI raised shares of Organon & Co. to a "strong-buy" rating in a report on Wednesday, September 18th.

Organon & Co. Trading Up 1.0 %

OGN stock traded up $0.14 during trading on Friday, hitting $14.58. 31,562,867 shares of the company traded hands, compared to its average volume of 2,444,714. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. Organon & Co. has a 1 year low of $13.40 and a 1 year high of $23.10. The firm has a market capitalization of $3.75 billion, a PE ratio of 2.89, a P/E/G ratio of 0.81 and a beta of 0.75. The company has a 50-day moving average of $16.12 and a 200-day moving average of $18.97.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.03). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company earned $0.78 EPS. Organon & Co.'s revenue was up 4.1% compared to the same quarter last year. Analysts predict that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were paid a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 7.68%. Organon & Co.'s payout ratio is 22.22%.

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.