New York State Common Retirement Fund Has $2.75 Million Holdings in Organon & Co. (NYSE:OGN)

New York State Common Retirement Fund decreased its position in shares of Organon & Co. (NYSE:OGN) by 14.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,749 shares of the company’s stock after selling 32,134 shares during the quarter. New York State Common Retirement Fund’s holdings in Organon & Co. were worth $2,751,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lindbrook Capital LLC raised its position in Organon & Co. by 348.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock valued at $27,000 after purchasing an additional 1,428 shares during the last quarter. Harvest Fund Management Co. Ltd increased its stake in shares of Organon & Co. by 495.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,602 shares of the company’s stock valued at $28,000 after buying an additional 1,333 shares during the period. Headlands Technologies LLC bought a new position in Organon & Co. in the 3rd quarter valued at approximately $35,000. EverSource Wealth Advisors LLC raised its holdings in Organon & Co. by 97.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,246 shares of the company’s stock valued at $39,000 after buying an additional 1,110 shares during the last quarter. Finally, Clear Street Markets LLC boosted its position in Organon & Co. by 588.9% during the 3rd quarter. Clear Street Markets LLC now owns 2,294 shares of the company’s stock worth $40,000 after buying an additional 1,961 shares during the period. Institutional investors own 77.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on OGN. The Goldman Sachs Group raised 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. Piper Sandler lifted their target price on Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday, April 29th.

Organon & Co. Stock Performance

Shares of NYSE OGN opened at $20.68 on Tuesday. The company’s 50 day moving average price is $18.19 and its 200-day moving average price is $15.76. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $24.08. The company has a market capitalization of $5.32 billion, a P/E ratio of 5.02, a price-to-earnings-growth ratio of 0.88 and a beta of 0.81.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.14. Organon & Co. had a negative return on equity of 259.73% and a net margin of 16.50%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. Analysts forecast that Organon & Co. will post 4.1 earnings per share for the current 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 paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 5.42%. The ex-dividend date is Friday, May 10th. Organon & Co.’s dividend payout ratio (DPR) is presently 27.38%.

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 stock was bought at an average price of $18.36 per share, with a total value of $49,939.20. Following the transaction, the insider now directly owns 15,181 shares in the company, valued at approximately $278,723.16. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.17% of the company’s stock.

Organon & Co. Company Profile

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.