California State Teachers Retirement System Sells 3,995 Shares of Organon & Co. (NYSE:OGN)

Posted by Defense World Staff on Aug 19th, 2023

California State Teachers Retirement System trimmed its holdings in Organon & Co. (NYSE:OGN – Free Report) by 1.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 333,507 shares of the company’s stock after selling 3,995 shares during the quarter. California State Teachers Retirement System owned 0.13% of Organon & Co. worth $7,844,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Seizert Capital Partners LLC lifted its holdings in shares of Organon & Co. by 6.7% in the 1st quarter. Seizert Capital Partners LLC now owns 287,333 shares of the company’s stock worth $6,758,000 after acquiring an additional 18,010 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Organon & Co. by 97.9% in the 1st quarter. Russell Investments Group Ltd. now owns 539,402 shares of the company’s stock worth $12,686,000 after acquiring an additional 266,777 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of Organon & Co. by 4.3% in the 1st quarter. Brown Advisory Inc. now owns 46,885 shares of the company’s stock worth $1,103,000 after acquiring an additional 1,923 shares during the last quarter. Private Management Group Inc. increased its stake in shares of Organon & Co. by 1.2% in the first quarter. Private Management Group Inc. now owns 1,115,369 shares of the company’s stock worth $26,233,000 after buying an additional 12,936 shares during the period. Finally, Roberts Glore & Co. Inc. IL increased its stake in shares of Organon & Co. by 1.6% in the first quarter. Roberts Glore & Co. Inc. IL now owns 30,363 shares of the company’s stock worth $714,000 after buying an additional 468 shares during the period. 76.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Morgan Stanley lifted their target price on shares of Organon & Co. from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 9th.

Read Our Latest Research Report on OGN

Organon & Co. Price Performance

NYSE:OGN opened at $22.49 on Friday. The firm’s 50-day moving average price is $21.31 and its 200-day moving average price is $22.77. The company has a market capitalization of $5.75 billion, a PE ratio of 7.62, a P/E/G ratio of 0.74 and a beta of 0.81. Organon & Co. has a 1-year low of $18.87 and a 1-year high of $32.43.

Organon & Co. (NYSE:OGN – Get Free Report) last released its earnings results on Tuesday, August 8th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.34. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a net margin of 12.22% and a negative return on equity of 142.40%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 EPS. Equities analysts anticipate that Organon & Co. will post 4.23 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Friday, August 18th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Thursday, August 17th. Organon & Co.’s dividend payout ratio is presently 37.97%.

About Organon & Co.

(Free Report)

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/Implanon, 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.