Organon & Co. (NYSE:OGN) Stock Holdings Lessened by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its holdings in Organon & Co. (NYSE:OGN) by 6.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 287,488 shares of the company’s stock after selling 21,400 shares during the quarter. New York State Teachers Retirement System owned approximately 0.11% of Organon & Co. worth $4,281,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of OGN. Proficio Capital Partners LLC bought a new position in shares of Organon & Co. in the 4th quarter worth about $394,000. Smartleaf Asset Management LLC lifted its position in Organon & Co. by 95.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 6,169 shares of the company’s stock valued at $90,000 after purchasing an additional 3,012 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Organon & Co. by 1,795.8% in the 4th quarter. Jones Financial Companies Lllp now owns 4,550 shares of the company’s stock valued at $68,000 after purchasing an additional 4,310 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Organon & Co. in the 4th quarter valued at about $97,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Organon & Co. by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,333,703 shares of the company’s stock valued at $49,739,000 after purchasing an additional 10,652 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Evercore ISI downgraded shares of Organon & Co. from an “outperform” rating to an “inline” rating in a research report on Friday, May 2nd. Piper Sandler cut their price objective on shares of Organon & Co. from $24.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, May 15th. Morgan Stanley cut their price objective on shares of Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Monday, May 5th. Finally, BNP Paribas upgraded shares of Organon & Co. to a “strong-buy” rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Organon & Co. currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Organon & Co. Stock Down 0.7%

OGN stock opened at $10.08 on Monday. Organon & Co. has a 52 week low of $8.01 and a 52 week high of $23.10. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 3.50, a price-to-earnings-growth ratio of 1.02 and a beta of 0.60. The firm’s 50-day moving average is $9.61 and its two-hundred day moving average is $12.85. The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 16.49.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.13. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the previous year, the firm earned $1.22 EPS. Organon & Co.’s revenue was down 6.7% on a year-over-year basis. On average, analysts forecast that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were given a dividend of $0.02 per share. The ex-dividend date was Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.79%. Organon & Co.’s dividend payout ratio (DPR) is 2.78%.

Insider Activity at Organon & Co.

In other Organon & Co. news, VP Daniel Karp acquired 3,500 shares of the stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $8.24 per share, with a total value of $28,840.00. Following the purchase, the vice president directly owned 46,669 shares of the company’s stock, valued at approximately $384,552.56. This trade represents a 8.11% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew M. Walsh acquired 11,400 shares of the stock in a transaction dated Monday, May 5th. The stock was acquired at an average cost of $8.82 per share, for a total transaction of $100,548.00. Following the purchase, the chief financial officer directly owned 144,484 shares in the company, valued at approximately $1,274,348.88. The trade was a 8.57% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 102,345 shares of company stock valued at $902,430 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

About Organon & Co.

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.