Sound Income Strategies LLC Boosts Holdings in Organon & Co. (NYSE:OGN)

Sound Income Strategies LLC raised its holdings in shares of Organon & Co. (NYSE:OGN) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 651,106 shares of the company’s stock after buying an additional 39,726 shares during the period. Sound Income Strategies LLC owned about 0.25% of Organon & Co. worth $9,714,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in shares of Organon & Co. by 76.4% in the 2nd quarter. American Century Companies Inc. now owns 29,509 shares of the company’s stock worth $611,000 after purchasing an additional 12,782 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Organon & Co. by 6.2% during the second quarter. Envestnet Asset Management Inc. now owns 166,835 shares of the company’s stock valued at $3,453,000 after purchasing an additional 9,755 shares during the period. Dimensional Fund Advisors LP increased its position in Organon & Co. by 23.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,407,915 shares of the company’s stock worth $49,843,000 after buying an additional 463,216 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Organon & Co. in the second quarter worth about $1,120,000. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Organon & Co. by 1.8% during the 2nd 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 in the last quarter. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Trading Up 3.4 %

Shares of Organon & Co. stock opened at $16.41 on Friday. Organon & Co. has a fifty-two week low of $13.87 and a fifty-two 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 $4.23 billion, a P/E ratio of 3.26, a P/E/G ratio of 0.87 and a beta of 0.76. The company has a fifty day moving average of $15.35 and a 200 day moving average of $18.12.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data 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). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the company earned $0.78 EPS. The business’s revenue was up 4.1% on a year-over-year basis. On average, sell-side analysts anticipate that Organon & Co. will post 3.82 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date was Tuesday, November 12th. Organon & Co.’s dividend payout ratio (DPR) is currently 22.22%.

Analyst Upgrades and Downgrades

Separately, TD Cowen raised shares of Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Organon & Co. has a consensus rating of “Hold” and an average price target of $21.33.

Organon & Co. Profile

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.