Organon & Co. (NYSE:OGN) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its position in shares of Organon & Co. (NYSE:OGN) by 5.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 452,534 shares of the company’s stock after selling 23,587 shares during the quarter. California Public Employees Retirement System’s holdings in Organon & Co. were worth $6,526,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its holdings in shares of Organon & Co. by 2,016.0% during the 4th quarter. Nordea Investment Management AB now owns 3,128,810 shares of the company’s stock worth $44,648,000 after buying an additional 2,980,945 shares during the last quarter. Invesco Ltd. increased its stake in Organon & Co. by 23.7% during the third quarter. Invesco Ltd. now owns 10,240,630 shares of the company’s stock worth $177,777,000 after acquiring an additional 1,963,682 shares during the last quarter. Sound Income Strategies LLC raised its position in Organon & Co. by 140,626.7% in the fourth quarter. Sound Income Strategies LLC now owns 489,729 shares of the company’s stock valued at $7,062,000 after purchasing an additional 489,381 shares during the period. FMR LLC lifted its stake in shares of Organon & Co. by 28.3% in the 3rd quarter. FMR LLC now owns 2,189,693 shares of the company’s stock valued at $38,013,000 after purchasing an additional 483,257 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Organon & Co. by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,280,300 shares of the company’s stock worth $161,106,000 after purchasing an additional 436,034 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on OGN shares. Piper Sandler boosted their price objective on shares of Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, April 29th. The Goldman Sachs Group boosted their price target on shares of Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday.

Insiders Place Their Bets

In related news, insider Kirke Weaver acquired 2,720 shares of Organon & Co. stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average cost of $18.36 per share, for a total transaction of $49,939.20. Following the completion of the purchase, the insider now owns 15,181 shares in the company, valued at $278,723.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.17% of the company’s stock.

Organon & Co. Trading Up 0.6 %

OGN stock opened at $19.61 on Friday. The business’s fifty day moving average price is $18.19 and its 200 day moving average price is $15.77. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $24.08. The company has a market capitalization of $5.04 billion, a PE ratio of 4.79, a P/E/G ratio of 0.92 and a beta of 0.81.

Organon & Co. (NYSE:OGN) last issued its quarterly 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. Organon & Co. had a net margin of 16.50% and a negative return on equity of 259.73%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. Research analysts predict that Organon & Co. will post 4.1 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Monday, May 13th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.12 annualized dividend and a yield of 5.71%. Organon & Co.’s dividend payout ratio is presently 27.38%.

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.