Sound Income Strategies LLC Increases Stock Position in Organon & Co. (NYSE:OGN)

Sound Income Strategies LLC grew its position in shares of Organon & Co. (NYSE:OGN) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 651,106 shares of the company’s stock after purchasing an additional 39,726 shares during the period. Sound Income Strategies LLC’s holdings in Organon & Co. were worth $9,714,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Weiss Asset Management LP bought a new position in Organon & Co. during the third quarter valued at $32,966,000. AQR Capital Management LLC lifted its stake in shares of Organon & Co. by 39.8% in the 2nd quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock valued at $71,905,000 after purchasing an additional 988,336 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of 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 valued at $23,762,000 after purchasing an additional 934,505 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Organon & Co. by 35.7% during the 3rd 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 during the period. Finally, Philip James Wealth Mangement LLC bought a new stake in Organon & Co. in the third quarter worth $15,386,000. 77.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Organon & Co. Trading Up 3.4 %

OGN opened at $16.41 on Friday. Organon & Co. has a one year low of $13.87 and a one year 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 stock has a market cap of $4.23 billion, a price-to-earnings ratio of 3.26, a P/E/G ratio of 0.87 and a beta of 0.76. The stock’s 50 day moving average price is $15.35 and its 200-day moving average price is $18.12.

Organon & Co. (NYSE:OGN) last released its 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 during 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%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. On average, equities analysts forecast that Organon & Co. will post 3.82 EPS for the current year.

Organon & Co. Dividend Announcement

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

Organon & Co. Company 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.