Organon & Co. (NYSE:OGN) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its holdings in Organon & Co. (NYSE:OGN) by 6.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 138,367 shares of the company’s stock after selling 9,419 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Organon & Co. were worth $2,064,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fisher Funds Management LTD acquired a new position in shares of Organon & Co. in the 4th quarter valued at approximately $1,897,000. Deseret Mutual Benefit Administrators raised its holdings in Organon & Co. by 24.3% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 6,256 shares of the company’s stock valued at $93,000 after acquiring an additional 1,222 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new position in Organon & Co. during the 4th quarter valued at $2,820,000. Handelsbanken Fonder AB grew its holdings in Organon & Co. by 17.8% during the 4th quarter. Handelsbanken Fonder AB now owns 80,365 shares of the company’s stock worth $1,199,000 after acquiring an additional 12,115 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Organon & Co. by 730.9% during the 4th quarter. Global Retirement Partners LLC now owns 8,284 shares of the company’s stock worth $124,000 after acquiring an additional 7,287 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Price Performance

Shares of NYSE:OGN opened at $14.91 on Friday. The company has a market cap of $3.84 billion, a PE ratio of 4.48, a P/E/G ratio of 0.90 and a beta of 0.76. Organon & Co. has a fifty-two week low of $13.87 and a fifty-two week high of $23.10. The firm has a 50-day simple moving average of $15.44 and a 200 day simple moving average of $17.14. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73.

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

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Monday, February 24th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 7.51%. The ex-dividend date is Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is 33.63%.

Analysts Set New Price Targets

OGN has been the topic of a number of recent analyst reports. TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Barclays cut their price objective on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Finally, Morgan Stanley decreased their target price on Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.80.

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.