Hancock Whitney Corp Raises Stock Holdings in Organon & Co. (NYSE:OGN)

Hancock Whitney Corp boosted its position in Organon & Co. (NYSE:OGN) by 10.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,182 shares of the company’s stock after buying an additional 4,637 shares during the period. Hancock Whitney Corp’s holdings in Organon & Co. were worth $903,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of OGN. Versant Capital Management Inc increased its stake in shares of Organon & Co. by 200.2% in the second quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock worth $25,000 after acquiring an additional 805 shares during the period. Prospera Private Wealth LLC purchased a new stake in Organon & Co. in the third quarter valued at $25,000. William B. Walkup & Associates Inc. purchased a new position in shares of Organon & Co. during the 2nd quarter valued at about $31,000. Atlas Capital Advisors LLC raised its stake in shares of Organon & Co. by 2,236.5% during the 2nd quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock valued at $46,000 after buying an additional 2,147 shares during the last quarter. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Organon & Co. by 5,646.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after buying an additional 2,315 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Price Performance

Organon & Co. stock opened at $15.80 on Wednesday. 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 capitalization of $4.07 billion, a P/E ratio of 3.13, a P/E/G ratio of 0.76 and a beta of 0.84. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $23.10. The company’s fifty day moving average price is $17.52 and its 200 day moving average price is $19.74.

Organon & Co. (NYSE:OGN) last posted 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 during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts anticipate that Organon & Co. will post 3.89 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 7.09%. The ex-dividend date of this dividend is Tuesday, November 12th. Organon & Co.’s dividend payout ratio (DPR) is 22.22%.

Analyst Ratings Changes

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

Organon & Co. Profile

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.