Organon & Co. (NYSE:OGN) Holdings Trimmed by Arizona State Retirement System

Arizona State Retirement System trimmed its position in shares of Organon & Co. (NYSE:OGN) by 1.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,442 shares of the company’s stock after selling 1,182 shares during the period. Arizona State Retirement System’s holdings in Organon & Co. were worth $1,030,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kahn Brothers Group Inc. grew its position in Organon & Co. by 0.6% during the 4th quarter. Kahn Brothers Group Inc. now owns 62,634 shares of the company’s stock worth $1,749,000 after purchasing an additional 366 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in Organon & Co. by 5.2% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,114 shares of the company’s stock worth $213,000 after purchasing an additional 449 shares in the last quarter. Fairfield Bush & CO. grew its position in Organon & Co. by 3.0% during the 1st quarter. Fairfield Bush & CO. now owns 16,302 shares of the company’s stock worth $569,000 after purchasing an additional 481 shares in the last quarter. Cresset Asset Management LLC grew its position in Organon & Co. by 3.7% during the 1st quarter. Cresset Asset Management LLC now owns 13,969 shares of the company’s stock worth $488,000 after purchasing an additional 493 shares in the last quarter. Finally, Capital Research Global Investors grew its position in Organon & Co. by 0.7% during the 1st quarter. Capital Research Global Investors now owns 71,903 shares of the company’s stock worth $2,512,000 after purchasing an additional 513 shares in the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Up 1.5 %

Organon & Co. stock opened at $17.71 on Tuesday. The company’s fifty day simple moving average is $17.92 and its 200-day simple moving average is $15.59. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $24.79. The stock has a market cap of $4.53 billion, a P/E ratio of 4.43, a P/E/G ratio of 0.83 and a beta of 0.82.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.14. Organon & Co. had a net margin of 16.33% and a negative return on equity of 212.00%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. On average, equities research analysts expect that Organon & Co. will post 4.08 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, February 26th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.32%. The ex-dividend date was Friday, February 23rd. Organon & Co.’s payout ratio is presently 28.00%.

Insider Activity at Organon & Co.

In other Organon & Co. news, insider Kirke Weaver acquired 2,720 shares of Organon & Co. stock in a transaction that occurred on Thursday, February 22nd. The stock was acquired at an average price of $18.36 per share, with a total value of $49,939.20. Following the purchase, the insider now owns 15,181 shares in the company, valued at $278,723.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their price target on shares of Organon & Co. from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th.

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.