Maryland State Retirement & Pension System Has $1.62 Million Position in Organon & Co. (NYSE:OGN)

Maryland State Retirement & Pension System boosted its holdings in Organon & Co. (NYSE:OGN) by 479.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,268 shares of the company’s stock after buying an additional 92,898 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Organon & Co. were worth $1,619,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in OGN. New York State Teachers Retirement System lifted its holdings in shares of Organon & Co. by 20.1% during the fourth quarter. New York State Teachers Retirement System now owns 348,226 shares of the company’s stock worth $5,021,000 after purchasing an additional 58,321 shares during the period. State of Alaska Department of Revenue increased its position in shares of Organon & Co. by 417.8% during the fourth quarter. State of Alaska Department of Revenue now owns 157,249 shares of the company’s stock worth $2,267,000 after buying an additional 126,882 shares during the period. KLCM Advisors Inc. raised its stake in Organon & Co. by 60.4% during the fourth quarter. KLCM Advisors Inc. now owns 999,099 shares of the company’s stock worth $14,407,000 after buying an additional 376,055 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in Organon & Co. by 59.1% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 221,461 shares of the company’s stock valued at $3,193,000 after acquiring an additional 82,239 shares during the last quarter. Finally, UBS Group AG grew its holdings in Organon & Co. by 88.3% during the 3rd quarter. UBS Group AG now owns 657,912 shares of the company’s stock worth $11,421,000 after acquiring an additional 308,470 shares during the period. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Organon & Co.

In other news, insider Kirke Weaver acquired 2,720 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were purchased at an average cost of $18.36 per share, with a total value of $49,939.20. Following the acquisition, the insider now directly owns 15,181 shares of the company’s stock, valued at $278,723.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

OGN has been the topic of several research analyst reports. Piper Sandler upped their target price on Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. The Goldman Sachs Group boosted their target price on Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd.

Organon & Co. Price Performance

Shares of NYSE OGN traded up $0.03 during mid-day trading on Wednesday, reaching $20.43. 247,959 shares of the company’s stock traded hands, compared to its average volume of 2,699,539. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $24.08. The stock has a market cap of $5.25 billion, a P/E ratio of 4.98, a PEG ratio of 0.88 and a beta of 0.81. The business has a 50-day simple moving average of $18.30 and a 200 day simple moving average of $15.82.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.14. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. Organon & Co. had a negative return on equity of 259.73% and a net margin of 16.50%. Equities research analysts anticipate that Organon & Co. will post 4.1 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Monday, May 13th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, May 10th. This represents a $1.12 annualized dividend and a yield of 5.48%. Organon & Co.’s dividend payout ratio (DPR) is currently 27.38%.

Organon & Co. 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.