Organon & Co. $OGN Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its stake in shares of Organon & Co. (NYSE:OGN) by 69.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 216,737 shares of the company’s stock after acquiring an additional 88,454 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Organon & Co. were worth $2,098,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. AlphaQuest LLC grew its holdings in shares of Organon & Co. by 64,378.6% during the second quarter. AlphaQuest LLC now owns 18,054 shares of the company’s stock worth $175,000 after buying an additional 18,026 shares in the last quarter. 180 Wealth Advisors LLC grew its holdings in shares of Organon & Co. by 77.7% during the second quarter. 180 Wealth Advisors LLC now owns 113,354 shares of the company’s stock worth $1,097,000 after buying an additional 49,559 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Organon & Co. by 235.8% during the second quarter. Bleakley Financial Group LLC now owns 98,082 shares of the company’s stock worth $949,000 after buying an additional 68,873 shares in the last quarter. Denali Advisors LLC purchased a new stake in shares of Organon & Co. during the second quarter worth $99,000. Finally, Drive Wealth Management LLC purchased a new stake in shares of Organon & Co. during the second quarter worth $267,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Trading Down 4.6%

NYSE OGN opened at $6.36 on Thursday. The firm’s 50-day moving average is $9.76 and its two-hundred day moving average is $9.78. Organon & Co. has a 12 month low of $6.32 and a 12 month high of $19.05. The company has a debt-to-equity ratio of 11.98, a current ratio of 1.65 and a quick ratio of 1.13. The stock has a market capitalization of $1.65 billion, a P/E ratio of 2.36, a PEG ratio of 0.60 and a beta of 0.63.

Organon & Co. (NYSE:OGN) last posted its earnings results on Tuesday, August 5th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. Organon & Co. had a net margin of 11.15% and a return on equity of 163.88%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. Organon & Co.’s revenue for the quarter was down .8% compared to the same quarter last year. Organon & Co. has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 15th were given a $0.02 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 1.3%. Organon & Co.’s dividend payout ratio is presently 2.97%.

Wall Street Analyst Weigh In

OGN has been the subject of a number of research reports. Piper Sandler lowered shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 target price for the company. in a report on Monday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Organon & Co. in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.00.

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.