California Public Employees Retirement System Sells 44,686 Shares of Organon & Co. (NYSE:OGN)

California Public Employees Retirement System reduced its position in shares of Organon & Co. (NYSE:OGN - Free Report) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 415,772 shares of the company's stock after selling 44,686 shares during the quarter. California Public Employees Retirement System owned 0.16% of Organon & Co. worth $6,203,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Horizon Bancorp Inc. IN increased its stake in Organon & Co. by 2,401.5% during the 4th quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company's stock worth $25,000 after acquiring an additional 1,585 shares during the period. Millstone Evans Group LLC acquired a new stake in shares of Organon & Co. in the 4th quarter valued at about $29,000. Larson Financial Group LLC raised its position in Organon & Co. by 345.4% in the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company's stock valued at $33,000 after buying an additional 1,734 shares during the last quarter. Riverview Trust Co grew its stake in Organon & Co. by 117.7% in the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company's stock valued at $36,000 after purchasing an additional 1,292 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Organon & Co. by 92.2% during the 4th quarter. Versant Capital Management Inc now owns 2,760 shares of the company's stock valued at $41,000 after buying an additional 1,324 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays decreased their price target on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Morgan Stanley cut their price target on shares of Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating for the company in a report on Wednesday. Finally, TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Organon & Co. has an average rating of "Hold" and an average price target of $20.60.

Organon & Co. Trading Down 2.3 %

NYSE OGN traded down $0.27 during trading on Friday, hitting $11.17. 5,055,884 shares of the company's stock traded hands, compared to its average volume of 2,651,096. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. The stock has a fifty day moving average of $14.64 and a two-hundred day moving average of $15.67. The firm has a market cap of $2.88 billion, a P/E ratio of 3.35, a PEG ratio of 0.90 and a beta of 0.73. Organon & Co. has a 12-month low of $10.94 and a 12-month high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.09). The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. As a group, sell-side analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 10.03%. Organon & Co.'s dividend payout ratio is presently 33.63%.

About Organon & Co.

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women's health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.