State of New Jersey Common Pension Fund D Has $2.09 Million Position in Organon & Co. (NYSE:OGN)

State of New Jersey Common Pension Fund D cut its holdings in Organon & Co. (NYSE:OGN) by 36.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 101,060 shares of the company’s stock after selling 56,907 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Organon & Co. were worth $2,092,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Organon & Co. by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 30,789,850 shares of the company’s stock worth $578,849,000 after acquiring an additional 192,613 shares during the last quarter. LSV Asset Management grew its stake in shares of Organon & Co. by 47.3% during the second quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock valued at $136,843,000 after purchasing an additional 2,121,940 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Organon & Co. by 26.9% in the first quarter. Nordea Investment Management AB now owns 3,970,328 shares of the company’s stock valued at $74,563,000 after purchasing an additional 841,518 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Organon & Co. by 1.2% in the first quarter. Principal Financial Group Inc. now owns 2,853,331 shares of the company’s stock valued at $53,643,000 after purchasing an additional 35,183 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in Organon & Co. by 156.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,900,554 shares of the company’s stock worth $27,406,000 after purchasing an additional 1,159,519 shares during the last quarter. 77.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered Organon & Co. from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $18.00 to $20.00 in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Organon & Co. currently has an average rating of “Hold” and an average target price of $22.17.

Organon & Co. Trading Down 3.4 %

OGN opened at $19.49 on Friday. The firm has a 50 day simple moving average of $21.04 and a 200 day simple moving average of $20.07. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $23.10. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 4.78, a price-to-earnings-growth ratio of 0.89 and a beta of 0.85. The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17.

Organon & Co. (NYSE:OGN) last issued its earnings results on Tuesday, August 6th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.08 by $0.04. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the company posted $1.31 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate that Organon & Co. will post 4.14 earnings per share for the current year.

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 16th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date of this dividend was Friday, August 16th. 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.