State Board of Administration of Florida Retirement System Decreases Position in Organon & Co. (NYSE:OGN)

Posted by on May 10th, 2023

State Board of Administration of Florida Retirement System lowered its stake in shares of Organon & Co. (NYSE:OGN – Get Rating) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 277,929 shares of the company’s stock after selling 6,860 shares during the period. State Board of Administration of Florida Retirement System owned 0.11% of Organon & Co. worth $7,763,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Ellevest Inc. boosted its holdings in Organon & Co. by 311.9% in the 3rd quarter. Ellevest Inc. now owns 1,145 shares of the company’s stock worth $27,000 after buying an additional 867 shares during the period. Wipfli Financial Advisors LLC bought a new position in Organon & Co. in the 3rd quarter worth approximately $28,000. Massmutual Trust Co. FSB ADV boosted its holdings in Organon & Co. by 132.2% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,066 shares of the company’s stock worth $30,000 after buying an additional 607 shares during the period. Romano Brothers AND Company bought a new position in Organon & Co. in the 4th quarter worth approximately $31,000. Finally, Glassman Wealth Services boosted its holdings in Organon & Co. by 63.8% in the 4th quarter. Glassman Wealth Services now owns 1,155 shares of the company’s stock worth $32,000 after buying an additional 450 shares during the period. Hedge funds and other institutional investors own 75.74% of the company’s stock.

Organon & Co. Price Performance

Shares of NYSE:OGN opened at $21.24 on Wednesday. The firm has a fifty day moving average price of $23.20 and a two-hundred day moving average price of $25.99. Organon & Co. has a one year low of $20.96 and a one year high of $39.09. The company has a market cap of $5.42 billion, a price-to-earnings ratio of 7.27, a PEG ratio of 0.94 and a beta of 0.77.

Organon & Co. (NYSE:OGN – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.10). Organon & Co. had a net margin of 12.14% and a negative return on equity of 119.00%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. Equities research analysts expect that Organon & Co. will post 4.22 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Monday, May 15th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend is Friday, May 12th. Organon & Co.’s dividend payout ratio (DPR) is currently 38.36%.

Wall Street Analysts Forecast Growth

Separately, Raymond James started coverage on shares of Organon & Co. in a report on Wednesday, March 15th. They issued an “outperform” rating and a $33.00 price objective for the company.

Organon & Co. Company 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.

See Also

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

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