By otakuyassine3@gmail.com 
California Public Employees Retirement System decreased its position in shares of Organon & Co. (NYSE:OGN – Free Report) by 9.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 415,772 shares of the company’s stock after selling 44,686 shares during the quarter. California Public Employees Retirement System’s holdings in Organon & Co. were worth $6,203,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in OGN. Pacer Advisors Inc. boosted its position in Organon & Co. by 94,482.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company’s stock worth $166,391,000 after purchasing an additional 11,140,388 shares during the period. Norges Bank purchased a new stake in shares of Organon & Co. during the 4th quarter valued at approximately $25,258,000. Magnetar Financial LLC boosted its holdings in Organon & Co. by 560.2% in the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company’s stock worth $25,878,000 after buying an additional 1,471,731 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Organon & Co. by 191.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 760,807 shares of the company’s stock valued at $11,382,000 after buying an additional 499,616 shares in the last quarter. Finally, Easterly Investment Partners LLC purchased a new position in Organon & Co. in the 4th quarter valued at approximately $5,933,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Barclays cut their price target on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a report 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 for the company in a research note on Friday, February 14th. Finally, TD Cowen upgraded Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $20.80.
Organon & Co. Trading Down 3.9 %
Shares of OGN stock opened at $12.54 on Tuesday. Organon & Co. has a 52-week low of $12.15 and a 52-week high of $23.10. The business’s fifty day moving average is $15.08 and its 200 day moving average is $15.94. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The company has a market capitalization of $3.23 billion, a PE ratio of 3.76, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73.
Organon & Co. (NYSE:OGN – Get Free Report) last released its quarterly earnings results 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 net margin of 13.49% and a return on equity of 431.62%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. On average, equities research analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.
Organon & Co. Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were given a dividend of $0.28 per share. The ex-dividend date was Monday, February 24th. This represents a $1.12 annualized dividend and a yield of 8.93%. Organon & Co.’s payout ratio is presently 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.
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