Vestcor Inc Purchases Shares of 21,520 Organon & Co. (NYSE:OGN)

Vestcor Inc acquired a new position in shares of Organon & Co. (NYSE:OGN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 21,520 shares of the company's stock, valued at approximately $321,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of OGN. Crossmark Global Holdings Inc. raised its holdings in shares of Organon & Co. by 43.4% during the third quarter. Crossmark Global Holdings Inc. now owns 20,157 shares of the company's stock valued at $385,000 after acquiring an additional 6,096 shares during the period. Victory Capital Management Inc. grew its position in Organon & Co. by 127.3% during the 3rd quarter. Victory Capital Management Inc. now owns 183,298 shares of the company's stock worth $3,506,000 after purchasing an additional 102,663 shares in the last quarter. KBC Group NV raised its stake in Organon & Co. by 19.5% during the 3rd quarter. KBC Group NV now owns 7,744 shares of the company's stock valued at $148,000 after purchasing an additional 1,263 shares during the period. Natixis Advisors LLC lifted its holdings in shares of Organon & Co. by 7.9% in the third quarter. Natixis Advisors LLC now owns 48,215 shares of the company's stock valued at $922,000 after purchasing an additional 3,520 shares in the last quarter. Finally, Aljian Capital Management LLC acquired a new stake in shares of Organon & Co. in the third quarter worth $196,000. Institutional investors and hedge funds own 77.43% of the company's stock.

Organon & Co. Stock Down 1.7 %

NYSE:OGN traded down $0.27 during trading hours on Friday, reaching $15.33. The company's stock had a trading volume of 20,287,896 shares, compared to its average volume of 2,412,214. 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 company has a market cap of $3.95 billion, a price-to-earnings ratio of 4.60, a price-to-earnings-growth ratio of 0.90 and a beta of 0.76. Organon & Co. has a one year low of $13.87 and a one year high of $23.10. The business's 50-day moving average is $15.45 and its 200-day moving average is $16.54.

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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 for the quarter, missing analysts' consensus estimates of $0.92 by ($0.09). The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. Equities research analysts predict that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.31%. The ex-dividend date was Monday, February 24th. Organon & Co.'s dividend payout ratio is 33.63%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. TD Cowen raised Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. Barclays reduced their price target on shares of 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, Morgan Stanley lowered their price objective on shares of 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 analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $20.80.

Organon & Co. Company 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.