Exchange Traded Concepts LLC Raises Holdings in Organon & Co. (NYSE:OGN)

Exchange Traded Concepts LLC grew its stake in Organon & Co. (NYSE:OGN - Free Report) by 230.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 162,607 shares of the company's stock after purchasing an additional 113,416 shares during the period. Exchange Traded Concepts LLC owned approximately 0.06% of Organon & Co. worth $3,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ritholtz Wealth Management acquired a new stake in Organon & Co. during the third quarter worth about $356,000. Simplicity Wealth LLC grew its stake in shares of Organon & Co. by 86.0% in the 3rd quarter. Simplicity Wealth LLC now owns 22,341 shares of the company's stock valued at $427,000 after buying an additional 10,332 shares during the period. Atomi Financial Group Inc. increased its holdings in shares of Organon & Co. by 26.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 42,034 shares of the company's stock worth $804,000 after buying an additional 8,811 shares during the last quarter. Foresight Capital Management Advisors Inc. purchased a new stake in shares of Organon & Co. during the 3rd quarter valued at approximately $1,013,000. Finally, Diversified Trust Co acquired a new position in Organon & Co. in the third quarter valued at approximately $416,000. Institutional investors and hedge funds own 77.43% of the company's stock.

Organon & Co. Trading Down 0.3 %

Organon & Co. stock traded down $0.06 during trading on Tuesday, hitting $18.04. The company had a trading volume of 2,358,933 shares, compared to its average volume of 2,179,112. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 4.41, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84. The company has a current ratio of 1.64, a quick ratio of 1.17 and a debt-to-equity ratio of 60.05. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $23.10. The company's 50 day simple moving average is $20.09 and its 200-day simple moving average is $20.16.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.04. The business had revenue of $1.61 billion during the quarter, compared to analysts' expectations 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 was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 earnings per share. As a group, analysts expect that Organon & Co. will post 4.15 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 16th were paid a dividend of $0.28 per share. The ex-dividend date was Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a yield of 6.21%. Organon & Co.'s dividend payout ratio (DPR) is presently 27.38%.

Analyst Ratings Changes

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

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.