Organon & Co. (NYSE:OGN) Shares Sold by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina lessened its position in shares of Organon & Co. (NYSE:OGNFree Report) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 113,300 shares of the company’s stock after selling 2,455 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Organon & Co. were worth $1,634,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Invesco Ltd. boosted its position in Organon & Co. by 23.7% in the third quarter. Invesco Ltd. now owns 10,240,630 shares of the company’s stock valued at $177,777,000 after buying an additional 1,963,682 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Organon & Co. by 10.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,211,008 shares of the company’s stock valued at $147,243,000 after acquiring an additional 930,708 shares during the last quarter. Sound Shore Management Inc. CT increased its stake in shares of Organon & Co. by 35.2% in the fourth quarter. Sound Shore Management Inc. CT now owns 4,675,137 shares of the company’s stock worth $67,415,000 after acquiring an additional 1,216,522 shares during the period. LSV Asset Management raised its holdings in shares of Organon & Co. by 10.5% during the fourth quarter. LSV Asset Management now owns 3,349,579 shares of the company’s stock worth $48,301,000 after purchasing an additional 317,727 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Organon & Co. by 2,016.0% during the fourth quarter. Nordea Investment Management AB now owns 3,128,810 shares of the company’s stock valued at $44,648,000 after purchasing an additional 2,980,945 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on OGN. The Goldman Sachs Group increased their price target on Organon & Co. from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Piper Sandler lifted their price target on Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, April 29th.

Read Our Latest Research Report on Organon & Co.

Organon & Co. Stock Up 0.4 %

OGN stock opened at $20.75 on Friday. Organon & Co. has a one year low of $10.84 and a one year high of $24.08. The company has a debt-to-equity ratio of 181.35, a quick ratio of 1.15 and a current ratio of 1.65. The firm’s fifty day moving average is $19.69 and its 200 day moving average is $17.07. The firm has a market cap of $5.34 billion, a PE ratio of 5.07, a P/E/G ratio of 0.91 and a beta of 0.87.

Organon & Co. (NYSE:OGNGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.31. Organon & Co. had a net margin of 16.50% and a negative return on equity of 360.57%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.57 billion. On average, research analysts forecast that Organon & Co. will post 4.3 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Monday, May 13th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend is Friday, May 10th. Organon & Co.’s dividend payout ratio (DPR) is presently 27.38%.

About Organon & Co.

(Free Report)

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.

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Institutional Ownership by Quarter for Organon & Co. (NYSE:OGN)

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