Cerity Partners LLC Takes $267,000 Position in Organon & Co. (NYSE:OGN)

Cerity Partners LLC bought a new stake in Organon & Co. (NYSE:OGNGet Rating) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,889 shares of the company’s stock, valued at approximately $267,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in shares of Organon & Co. in the second quarter valued at about $25,000. MCF Advisors LLC purchased a new stake in shares of Organon & Co. in the first quarter valued at about $29,000. SouthState Corp boosted its holdings in shares of Organon & Co. by 85.6% in the first quarter. SouthState Corp now owns 891 shares of the company’s stock valued at $31,000 after acquiring an additional 411 shares in the last quarter. ACG Wealth purchased a new stake in shares of Organon & Co. in the second quarter valued at about $31,000. Finally, Truvestments Capital LLC purchased a new stake in shares of Organon & Co. in the second quarter valued at about $33,000. Hedge funds and other institutional investors own 76.28% of the company’s stock.

Organon & Co. Stock Up 1.3 %

Shares of NYSE OGN opened at $24.72 on Tuesday. Organon & Co. has a 52 week low of $22.88 and a 52 week high of $39.47. The firm has a 50-day moving average price of $25.20 and a 200 day moving average price of $30.42. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 6.17 and a beta of 0.87.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, November 14th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Thursday, November 10th. Organon & Co.’s payout ratio is currently 28.28%.

Analyst Ratings Changes

Several analysts have recently weighed in on OGN shares. Piper Sandler raised shares of Organon & Co. from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $37.00 to $34.00 in a report on Tuesday, September 6th. Bank of America cut shares of Organon & Co. from a “neutral” rating to an “underperform” rating and set a $25.00 price objective for the company. in a research note on Friday, October 14th. Finally, Morgan Stanley reduced their price objective on shares of Organon & Co. from $27.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, November 4th.

Organon & Co. Profile

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Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.

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Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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