Organon & Co. (NYSE:OGN) Shares Sold by New York State Teachers Retirement System

Posted by Defense World Staff on Apr 15th, 2023

New York State Teachers Retirement System lessened its stake in shares of Organon & Co. (NYSE:OGN – Get Rating) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 281,010 shares of the company’s stock after selling 2,860 shares during the period. New York State Teachers Retirement System owned about 0.11% of Organon & Co. worth $7,849,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Natixis Advisors L.P. lifted its position in shares of Organon & Co. by 19.3% during the 4th quarter. Natixis Advisors L.P. now owns 45,192 shares of the company’s stock valued at $1,262,000 after acquiring an additional 7,311 shares during the last quarter. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Organon & Co. during the 4th quarter valued at $224,000. Comerica Bank lifted its position in shares of Organon & Co. by 2.1% during the 4th quarter. Comerica Bank now owns 35,073 shares of the company’s stock valued at $1,125,000 after acquiring an additional 724 shares during the last quarter. Strs Ohio lifted its position in shares of Organon & Co. by 16.2% during the 4th quarter. Strs Ohio now owns 47,481 shares of the company’s stock valued at $1,326,000 after acquiring an additional 6,630 shares during the last quarter. Finally, Boston Common Asset Management LLC lifted its holdings in shares of Organon & Co. by 6.5% in the fourth quarter. Boston Common Asset Management LLC now owns 273,403 shares of the company’s stock valued at $7,636,000 after purchasing an additional 16,797 shares in the last quarter. Institutional investors and hedge funds own 75.74% of the company’s stock.

Organon & Co. Stock Down 0.8 %

OGN opened at $23.80 on Friday. The stock has a fifty day moving average of $24.56 and a 200-day moving average of $26.02. The firm has a market capitalization of $6.05 billion, a P/E ratio of 6.63, a PEG ratio of 0.98 and a beta of 0.76. Organon & Co. has a 12-month low of $20.96 and a 12-month high of $39.09.

Organon & Co. (NYSE:OGN – Get Rating) last released its earnings results on Thursday, February 16th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Organon & Co. had a net margin of 14.85% and a negative return on equity of 118.21%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company earned $1.37 EPS. Organon & Co.’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, analysts expect that Organon & Co. will post 4.31 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 16th. Stockholders of record on Monday, February 27th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date was Friday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is presently 31.20%.

Analysts Set New Price Targets

Separately, Raymond James initiated coverage on Organon & Co. in a report on Wednesday, March 15th. They issued an “outperform” rating and a $33.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.20.

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.