Sound Income Strategies LLC Purchases 39,173 Shares of Organon & Co. (NYSE:OGN)

Sound Income Strategies LLC lifted its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 6.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 611,380 shares of the company's stock after acquiring an additional 39,173 shares during the period. Sound Income Strategies LLC owned approximately 0.24% of Organon & Co. worth $11,696,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Versant Capital Management Inc lifted its stake in shares of Organon & Co. by 200.2% in the second quarter. Versant Capital Management Inc now owns 1,207 shares of the company's stock worth $25,000 after buying an additional 805 shares in the last quarter. William B. Walkup & Associates Inc. bought a new stake in shares of Organon & Co. in the 2nd quarter worth about $31,000. Fidelis Capital Partners LLC bought a new stake in Organon & Co. during the 1st quarter valued at about $43,000. Tompkins Financial Corp increased its position in Organon & Co. by 450.7% during the 1st quarter. Tompkins Financial Corp now owns 2,412 shares of the company's stock valued at $45,000 after purchasing an additional 1,974 shares during the period. Finally, Atlas Capital Advisors LLC grew its position in shares of Organon & Co. by 2,236.5% in the 2nd quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company's stock worth $46,000 after buying an additional 2,147 shares during the last quarter. 77.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Evercore ISI upgraded shares of Organon & Co. to a "strong-buy" rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. cut shares of Organon & Co. from a "neutral" rating to an "underweight" rating and raised their price objective for the stock from $18.00 to $20.00 in a report on Friday, September 6th.

Organon & Co. Stock Performance

NYSE OGN traded up $0.02 during trading hours on Friday, hitting $18.00. The company had a trading volume of 1,841,061 shares, compared to its average volume of 2,181,096. The firm has a market cap of $4.63 billion, a P/E ratio of 4.63, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84. The company has a quick ratio of 1.17, a current ratio of 1.64 and a debt-to-equity ratio of 60.05. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $23.10. The business has a fifty day simple moving average of $20.15 and a 200-day simple moving average of $20.17.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. The company's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $1.31 EPS. Equities analysts predict that Organon & Co. will post 4.15 EPS for the current year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.22%. Organon & Co.'s dividend payout ratio (DPR) is currently 28.79%.

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, 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.