Organon & Co. $OGN Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D raised its holdings in shares of Organon & Co. (NYSE:OGN) by 69.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 216,737 shares of the company’s stock after acquiring an additional 88,454 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.08% of Organon & Co. worth $2,098,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. AlphaQuest LLC lifted its stake in Organon & Co. by 64,378.6% during the 2nd quarter. AlphaQuest LLC now owns 18,054 shares of the company’s stock valued at $175,000 after acquiring an additional 18,026 shares during the period. 180 Wealth Advisors LLC lifted its stake in Organon & Co. by 77.7% during the 2nd quarter. 180 Wealth Advisors LLC now owns 113,354 shares of the company’s stock valued at $1,097,000 after acquiring an additional 49,559 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of Organon & Co. by 235.8% in the 2nd quarter. Bleakley Financial Group LLC now owns 98,082 shares of the company’s stock valued at $949,000 after purchasing an additional 68,873 shares during the period. Denali Advisors LLC acquired a new position in shares of Organon & Co. in the 2nd quarter valued at $99,000. Finally, Drive Wealth Management LLC acquired a new position in shares of Organon & Co. in the 2nd quarter valued at $267,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Stock Performance

NYSE:OGN opened at $6.36 on Thursday. The company has a debt-to-equity ratio of 11.98, a quick ratio of 1.13 and a current ratio of 1.65. The company has a fifty day moving average of $9.76 and a two-hundred day moving average of $9.78. The stock has a market capitalization of $1.65 billion, a PE ratio of 2.36, a P/E/G ratio of 0.60 and a beta of 0.63. Organon & Co. has a fifty-two week low of $6.32 and a fifty-two week high of $19.05.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.06. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Organon & Co. had a net margin of 11.15% and a return on equity of 163.88%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 earnings per share. Organon & Co. has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 15th were given a dividend of $0.02 per share. The ex-dividend date was Friday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 1.3%. Organon & Co.’s dividend payout ratio is currently 2.97%.

Analysts Set New Price Targets

OGN has been the subject of several analyst reports. Piper Sandler cut shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research note on Monday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Organon & Co. in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Organon & Co. has an average rating of “Hold” and a consensus price target of $13.00.

Organon & Co. Company Profile

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.