Organon & Co. (NYSE:OGN) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its stake in shares of Organon & Co. (NYSE:OGN - Free Report) by 10.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 479,433 shares of the company's stock after purchasing an additional 43,928 shares during the period. New York State Common Retirement Fund owned approximately 0.19% of Organon & Co. worth $7,153,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bfsg LLC grew its stake in Organon & Co. by 13.8% in the fourth quarter. Bfsg LLC now owns 16,980 shares of the company's stock worth $253,000 after purchasing an additional 2,060 shares during the period. D.A. Davidson & CO. boosted its holdings in shares of Organon & Co. by 3.8% during the 4th quarter. D.A. Davidson & CO. now owns 126,820 shares of the company's stock valued at $1,892,000 after buying an additional 4,673 shares in the last quarter. Truist Financial Corp grew its position in shares of Organon & Co. by 57.3% in the 4th quarter. Truist Financial Corp now owns 24,237 shares of the company's stock worth $362,000 after buying an additional 8,827 shares during the period. CIBC Asset Management Inc increased its stake in shares of Organon & Co. by 4.9% in the 4th quarter. CIBC Asset Management Inc now owns 25,523 shares of the company's stock worth $381,000 after acquiring an additional 1,184 shares in the last quarter. Finally, KLCM Advisors Inc. lifted its position in Organon & Co. by 1.0% during the 4th quarter. KLCM Advisors Inc. now owns 1,227,649 shares of the company's stock valued at $18,317,000 after acquiring an additional 11,652 shares during the period. Institutional investors own 77.43% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on OGN. Morgan Stanley reduced their price objective on Organon & Co. from $17.00 to $16.00 and set an "equal weight" rating for the company in a research report on Friday, February 14th. Barclays reduced their price objective on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. Finally, TD Cowen raised Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $20.80.

Organon & Co. Price Performance

NYSE OGN traded down $0.14 on Friday, reaching $14.91. The company had a trading volume of 4,600,061 shares, compared to its average volume of 2,923,012. The stock has a market capitalization of $3.84 billion, a PE ratio of 4.48, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. The firm's 50 day moving average price is $15.44 and its 200 day moving average price is $17.12. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a 12 month low of $13.87 and a 12 month high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.09). The company had revenue of $1.59 billion for 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, equities analysts predict that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.51%. Organon & Co.'s dividend payout ratio is 33.63%.

Organon & Co. Profile

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.