California Public Employees Retirement System Sells 44,686 Shares of Organon & Co. (NYSE:OGN)

California Public Employees Retirement System decreased its position in shares of Organon & Co. (NYSE:OGN) by 9.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 415,772 shares of the company’s stock after selling 44,686 shares during the quarter. California Public Employees Retirement System owned about 0.16% of Organon & Co. worth $6,203,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Horizon Bancorp Inc. IN grew its position in Organon & Co. by 2,401.5% in the 4th quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock valued at $25,000 after purchasing an additional 1,585 shares during the period. Millstone Evans Group LLC bought a new position in shares of Organon & Co. in the fourth quarter valued at $29,000. Larson Financial Group LLC lifted its stake in shares of Organon & Co. by 345.4% in the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after buying an additional 1,734 shares in the last quarter. Riverview Trust Co grew its holdings in shares of Organon & Co. by 117.7% during the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock valued at $36,000 after buying an additional 1,292 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Organon & Co. by 92.2% during the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock worth $41,000 after acquiring an additional 1,324 shares in the last quarter. Institutional investors own 77.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on OGN. Barclays cut their price target on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Morgan Stanley cut their target price on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Finally, TD Cowen upgraded Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $20.80.

Organon & Co. Price Performance

Shares of NYSE OGN opened at $12.54 on Tuesday. The company has a market capitalization of $3.23 billion, a PE ratio of 3.76, a PEG ratio of 0.90 and a beta of 0.73. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The stock’s 50 day moving average price is $15.08 and its 200-day moving average price is $15.94. Organon & Co. has a twelve month low of $12.15 and a twelve month high of $23.10.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. On average, equities analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 8.93%. The ex-dividend date was Monday, February 24th. Organon & Co.’s dividend payout ratio is 33.63%.

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.