Arizona State Retirement System Has $1.03 Million Stock Position in Organon & Co. (NYSE:OGN)

Arizona State Retirement System reduced its holdings in Organon & Co. (NYSE:OGN) by 1.6% in the 4th quarter, HoldingsChannel reports. The fund owned 71,442 shares of the company’s stock after selling 1,182 shares during the period. Arizona State Retirement System’s holdings in Organon & Co. were worth $1,030,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kahn Brothers Group Inc. boosted its stake in shares of Organon & Co. by 0.6% in the 4th quarter. Kahn Brothers Group Inc. now owns 62,634 shares of the company’s stock valued at $1,749,000 after purchasing an additional 366 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of Organon & Co. by 5.2% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,114 shares of the company’s stock valued at $213,000 after purchasing an additional 449 shares during the last quarter. Fairfield Bush & CO. boosted its stake in shares of Organon & Co. by 3.0% in the 1st quarter. Fairfield Bush & CO. now owns 16,302 shares of the company’s stock valued at $569,000 after purchasing an additional 481 shares during the last quarter. Cresset Asset Management LLC boosted its stake in shares of Organon & Co. by 3.7% in the 1st quarter. Cresset Asset Management LLC now owns 13,969 shares of the company’s stock valued at $488,000 after purchasing an additional 493 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Organon & Co. by 0.7% in the 1st quarter. Capital Research Global Investors now owns 71,903 shares of the company’s stock valued at $2,512,000 after purchasing an additional 513 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Kirke Weaver bought 2,720 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average cost of $18.36 per share, with a total value of $49,939.20. Following the completion of the purchase, the insider now directly owns 15,181 shares in the company, valued at $278,723.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upped their price objective on shares of Organon & Co. from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th.

Organon & Co. Stock Up 1.5 %

Shares of NYSE OGN opened at $17.71 on Tuesday. The firm has a market cap of $4.53 billion, a PE ratio of 4.43, a P/E/G ratio of 0.83 and a beta of 0.82. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $24.79. The company’s fifty day simple moving average is $17.92 and its 200 day simple moving average is $15.59.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, February 15th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.14. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. Organon & Co. had a net margin of 16.33% and a negative return on equity of 212.00%. On average, equities analysts predict that Organon & Co. will post 4.08 earnings per share for the current year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, February 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 6.32%. The ex-dividend date of this dividend was Friday, February 23rd. Organon & Co.’s dividend payout ratio is presently 28.00%.

About Organon & Co.

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, 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.