New York State Teachers Retirement System Has $4.61 Million Holdings in Organon & Co. (NYSE:OGN)

New York State Teachers Retirement System decreased its position in shares of Organon & Co. (NYSE:OGN) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 308,888 shares of the company’s stock after selling 18,988 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Organon & Co. worth $4,609,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Stanley Laman Group Ltd. acquired a new stake in shares of Organon & Co. during the 4th quarter worth approximately $165,000. Van ECK Associates Corp grew its stake in Organon & Co. by 91.3% in the 4th quarter. Van ECK Associates Corp now owns 529,482 shares of the company’s stock valued at $7,900,000 after purchasing an additional 252,750 shares during the period. Allspring Global Investments Holdings LLC raised its position in Organon & Co. by 191.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 760,807 shares of the company’s stock worth $11,382,000 after acquiring an additional 499,616 shares during the period. Principle Wealth Partners LLC raised its holdings in shares of Organon & Co. by 15.3% in the 4th quarter. Principle Wealth Partners LLC now owns 24,571 shares of the company’s stock worth $367,000 after purchasing an additional 3,259 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its stake in shares of Organon & Co. by 12.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 10,910 shares of the company’s stock worth $163,000 after acquiring an additional 1,248 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Stock Performance

Shares of OGN stock opened at $15.69 on Friday. Organon & Co. has a one year low of $13.87 and a one year high of $23.10. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 4.71, a price-to-earnings-growth ratio of 0.86 and a beta of 0.76. The company’s 50-day moving average is $15.36 and its 200 day moving average is $17.31. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. Sell-side analysts expect that Organon & Co. will post 3.78 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Monday, February 24th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 7.14%. The ex-dividend date of this dividend is Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is currently 33.63%.

Wall Street Analysts Forecast Growth

OGN has been the subject of a number of recent analyst reports. TD Cowen raised Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. Barclays reduced their price target on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Finally, Morgan Stanley cut their price objective 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average 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.