Lewis Asset Management LLC Takes Position in Organon & Co. (NYSE:OGN)

Lewis Asset Management LLC acquired a new position in shares of Organon & Co. (NYSE:OGN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,136 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in OGN. Mercer Global Advisors Inc. ADV increased its position in 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 purchasing an additional 546 shares during the period. Ballentine Partners LLC increased its position in shares of Organon & Co. by 3.0% during the second quarter. Ballentine Partners LLC now owns 19,105 shares of the company’s stock worth $395,000 after buying an additional 552 shares during the period. Atomi Financial Group Inc. increased its position in shares of Organon & Co. by 1.8% during the first quarter. Atomi Financial Group Inc. now owns 32,858 shares of the company’s stock worth $618,000 after buying an additional 593 shares during the period. Bill Few Associates Inc. raised its stake in Organon & Co. by 5.4% during the second quarter. Bill Few Associates Inc. now owns 12,218 shares of the company’s stock worth $253,000 after buying an additional 621 shares during the last quarter. Finally, Sippican Capital Advisors lifted its holdings in Organon & Co. by 4.3% in the third quarter. Sippican Capital Advisors now owns 15,230 shares of the company’s stock valued at $291,000 after buying an additional 627 shares during the period. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Performance

Shares of Organon & Co. stock opened at $16.12 on Friday. Organon & Co. has a one year low of $10.84 and a one year high of $23.10. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of 3.20, a PEG ratio of 0.76 and a beta of 0.84. The business has a 50-day simple moving average of $18.89 and a 200 day simple moving average of $20.06. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.17.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.03). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. On average, research analysts anticipate that Organon & Co. will post 4.04 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 yield of 6.95%. Organon & Co.’s payout ratio is 22.22%.

Analyst Ratings Changes

OGN has been the subject of several research analyst reports. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. downgraded 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 research 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.