1,723,243 Shares in Organon & Co. (NYSE:OGN) Acquired by Weiss Asset Management LP

Weiss Asset Management LP bought a new position in shares of Organon & Co. (NYSE:OGN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,723,243 shares of the company’s stock, valued at approximately $32,966,000. Organon & Co. makes up about 0.8% of Weiss Asset Management LP’s holdings, making the stock its 19th largest holding. Weiss Asset Management LP owned about 0.67% of Organon & Co. as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management boosted its stake in shares of Organon & Co. by 47.3% during the 2nd quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock worth $136,843,000 after acquiring an additional 2,121,940 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Organon & Co. in the 2nd quarter worth about $33,573,000. AQR Capital Management LLC increased its stake in Organon & Co. by 39.8% in the 2nd quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock worth $71,905,000 after purchasing an additional 988,336 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Organon & Co. by 303.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,242,135 shares of the company’s stock worth $23,762,000 after buying an additional 934,505 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Organon & Co. by 35.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company’s stock valued at $63,570,000 after buying an additional 875,128 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analysts Set New Price Targets

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

Organon & Co. Stock Performance

Shares of OGN opened at $15.55 on Friday. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $23.10. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The company has a market capitalization of $4.00 billion, a PE ratio of 3.08, a PEG ratio of 0.73 and a beta of 0.75. The company’s 50 day moving average price is $16.95 and its 200 day moving average price is $19.48.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.03). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the business posted $0.78 earnings per share. Organon & Co.’s revenue was up 4.1% on a year-over-year basis. Research analysts expect that Organon & Co. will post 3.89 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 7.20%. Organon & Co.’s dividend payout ratio is 22.22%.

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.