Van ECK Associates Corp Increases Holdings in Organon & Co. (NYSE:OGN)

Van ECK Associates Corp raised its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 32.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 276,732 shares of the company's stock after purchasing an additional 67,451 shares during the period. Van ECK Associates Corp owned about 0.11% of Organon & Co. worth $5,294,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in OGN. Private Management Group Inc. raised its holdings in shares of Organon & Co. by 1.8% in the 3rd quarter. Private Management Group Inc. now owns 1,893,868 shares of the company's stock valued at $36,230,000 after purchasing an additional 34,026 shares in the last quarter. Sippican Capital Advisors raised its stake in Organon & Co. by 4.3% in the third quarter. Sippican Capital Advisors now owns 15,230 shares of the company's stock worth $291,000 after buying an additional 627 shares in the last quarter. Measured Wealth Private Client Group LLC lifted its holdings in Organon & Co. by 36.4% during the third quarter. Measured Wealth Private Client Group LLC now owns 21,137 shares of the company's stock worth $404,000 after buying an additional 5,643 shares during the period. Abich Financial Wealth Management LLC boosted its position in Organon & Co. by 5,646.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company's stock valued at $45,000 after acquiring an additional 2,315 shares in the last quarter. Finally, Impact Partnership Wealth LLC purchased a new position in shares of Organon & Co. in the 3rd quarter valued at $251,000. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Down 0.5 %

OGN stock traded down $0.08 on Friday, hitting $16.04. 2,570,213 shares of the company's stock were exchanged, compared to its average volume of 2,735,779. The firm has a 50 day moving average price of $18.76 and a two-hundred day moving average price of $20.05. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $23.10. The stock has a market cap of $4.13 billion, a P/E ratio of 3.18, a price-to-earnings-growth ratio of 0.73 and a beta of 0.84. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.17 and a current ratio of 1.70.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.03). The business had revenue of $1.58 billion for the quarter, compared to analysts' expectations of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. Organon & Co.'s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. As a group, equities research analysts expect that Organon & Co. will post 3.97 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.98%. Organon & Co.'s dividend payout ratio is currently 22.22%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on OGN shares. Evercore ISI upgraded 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 target for the company from $18.00 to $20.00 in a report on Friday, September 6th.

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.