State of New Jersey Common Pension Fund D Purchases 42,817 Shares of Organon & Co. (NYSE:OGN)

State of New Jersey Common Pension Fund D raised its position in Organon & Co. (NYSE:OGN - Free Report) by 42.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 143,877 shares of the company's stock after buying an additional 42,817 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of Organon & Co. worth $2,147,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Philip James Wealth Mangement LLC lifted its stake in shares of Organon & Co. by 8.2% during the fourth quarter. Philip James Wealth Mangement LLC now owns 870,603 shares of the company's stock valued at $12,989,000 after acquiring an additional 66,341 shares during the period. Stanley Laman Group Ltd. bought a new stake in Organon & Co. during the 4th quarter worth about $165,000. Van ECK Associates Corp lifted its position in Organon & Co. by 91.3% during the 4th quarter. Van ECK Associates Corp now owns 529,482 shares of the company's stock valued at $7,900,000 after purchasing an additional 252,750 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Organon & Co. by 191.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 760,807 shares of the company's stock valued at $11,382,000 after purchasing an additional 499,616 shares during the last quarter. Finally, Principle Wealth Partners LLC grew its position in shares of Organon & Co. by 15.3% during the 4th quarter. Principle Wealth Partners LLC now owns 24,571 shares of the company's stock worth $367,000 after buying an additional 3,259 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Trading Up 7.3 %

OGN traded up $1.10 during mid-day trading on Tuesday, hitting $16.18. The stock had a trading volume of 4,443,177 shares, compared to its average volume of 2,882,491. The stock's fifty day simple moving average is $15.40 and its 200-day simple moving average is $17.20. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 4.86, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. Organon & Co. has a 1-year low of $13.87 and a 1-year high of $23.10. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. As a group, research analysts forecast that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors 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 yield of 6.92%. Organon & Co.'s payout ratio is 33.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on OGN. Barclays cut their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. TD Cowen raised Organon & Co. to a "hold" rating in a research note on Wednesday, January 15th. Finally, Morgan Stanley reduced their price target on Organon & Co. from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $20.80.

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.