New York State Teachers Retirement System Sells 78,324 Shares of Organon & Co. $OGN

New York State Teachers Retirement System lessened its stake in shares of Organon & Co. (NYSE:OGN) by 27.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 206,121 shares of the company’s stock after selling 78,324 shares during the quarter. New York State Teachers Retirement System’s holdings in Organon & Co. were worth $1,235,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OGN. Y Intercept Hong Kong Ltd raised its holdings in shares of Organon & Co. by 17.3% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 476,488 shares of the company’s stock worth $2,854,000 after purchasing an additional 70,326 shares during the period. Pictet Asset Management Holding SA grew its holdings in Organon & Co. by 17.8% during the first quarter. Pictet Asset Management Holding SA now owns 45,763 shares of the company’s stock valued at $274,000 after purchasing an additional 6,907 shares during the period. Sterling Capital Management LLC increased its position in Organon & Co. by 28.8% in the first quarter. Sterling Capital Management LLC now owns 58,527 shares of the company’s stock worth $351,000 after buying an additional 13,071 shares during the last quarter. Wealth Effects LLC purchased a new stake in Organon & Co. in the first quarter worth $75,000. Finally, Poehling Capital Management INC. raised its stake in shares of Organon & Co. by 1.3% in the first quarter. Poehling Capital Management INC. now owns 219,288 shares of the company’s stock valued at $1,314,000 after buying an additional 2,796 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Trading Down 0.0%

NYSE:OGN opened at $13.52 on Monday. The company has a market cap of $3.55 billion, a P/E ratio of 14.53, a P/E/G ratio of 1.25 and a beta of 1.54. The stock’s fifty day moving average price is $13.43 and its two-hundred day moving average price is $9.78. Organon & Co. has a 1 year low of $5.69 and a 1 year high of $13.60. The company has a debt-to-equity ratio of 9.47, a current ratio of 1.97 and a quick ratio of 1.42.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.12). Organon & Co. had a net margin of 3.99% and a return on equity of 99.95%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the firm posted $1.02 earnings per share. Organon & Co.’s revenue for the quarter was down 3.5% compared to the same quarter last year. As a group, analysts expect that Organon & Co. will post 3.23 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Monday, May 11th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, May 11th. Organon & Co.’s payout ratio is presently 8.60%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on OGN shares. BNP Paribas Exane reaffirmed a “neutral” rating and set a $14.00 price target (up from $12.00) on shares of Organon & Co. in a research report on Wednesday, April 29th. Weiss Ratings upgraded Organon & Co. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Zacks Research raised shares of Organon & Co. from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Finally, Piper Sandler upgraded shares of Organon & Co. from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $5.00 to $14.00 in a research report on Tuesday, April 28th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $11.40.

Insider Buying and Selling at Organon & Co.

In related news, SVP Lynette Holzbaur purchased 26,448 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average cost of $13.35 per share, for a total transaction of $353,080.80. Following the completion of the transaction, the senior vice president directly owned 52,851 shares in the company, valued at approximately $705,560.85. This represents a 100.17% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 1.62% of the stock is currently owned by corporate insiders.

About Organon & Co.

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.