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

Illinois Municipal Retirement Fund cut its position in shares of Organon & Co. (NYSE:OGN) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (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 owned approximately 0.05% of Organon & Co. worth $2,064,000 at the end of the most recent quarter.

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

Organon & Co. Stock Performance

NYSE OGN opened at $14.91 on Friday. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. Organon & Co. has a 1-year low of $13.87 and a 1-year high of $23.10. The firm has a market capitalization of $3.84 billion, a P/E ratio of 4.48, a P/E/G ratio of 0.90 and a beta of 0.76. The business’s 50-day simple moving average is $15.44 and its 200-day simple moving average is $17.14.

Organon & Co. (NYSE:OGN) last posted its quarterly 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). 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. Equities analysts predict that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays lowered 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 lowered their target price on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Finally, TD Cowen raised shares of 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 given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.80.

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.