Maryland State Retirement & Pension System Raises Stock Holdings in Organon & Co. $OGN

Maryland State Retirement & Pension System raised its position in shares of Organon & Co. (NYSE:OGN) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,420 shares of the company’s stock after acquiring an additional 1,195 shares during the period. Maryland State Retirement & Pension System’s holdings in Organon & Co. were worth $856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Triumph Capital Management raised its holdings in shares of Organon & Co. by 109.1% during the 2nd quarter. Triumph Capital Management now owns 90,342 shares of the company’s stock worth $875,000 after acquiring an additional 47,127 shares in the last quarter. Douglas Lane & Associates LLC raised its holdings in shares of Organon & Co. by 19.0% during the 2nd quarter. Douglas Lane & Associates LLC now owns 315,952 shares of the company’s stock worth $3,058,000 after acquiring an additional 50,393 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Organon & Co. by 42.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 19,392 shares of the company’s stock worth $289,000 after acquiring an additional 5,758 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Organon & Co. by 3.4% during the 1st quarter. M&T Bank Corp now owns 55,990 shares of the company’s stock worth $833,000 after acquiring an additional 1,854 shares in the last quarter. Finally, WBI Investments LLC purchased a new stake in shares of Organon & Co. during the 1st quarter worth approximately $946,000. 77.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Organon & Co. in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.33.

Organon & Co. Stock Performance

NYSE:OGN opened at $9.57 on Monday. The stock’s fifty day moving average is $9.89 and its 200 day moving average is $10.17. Organon & Co. has a fifty-two week low of $8.01 and a fifty-two week high of $19.05. The firm has a market capitalization of $2.49 billion, a PE ratio of 3.56, a PEG ratio of 0.87 and a beta of 0.63. The company has a debt-to-equity ratio of 11.98, a quick ratio of 1.13 and a current ratio of 1.65.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.06. Organon & Co. had a return on equity of 163.88% and a net margin of 11.15%.The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the prior year, the firm posted $1.12 EPS. Organon & Co.’s quarterly revenue 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. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 15th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, August 15th. Organon & Co.’s dividend payout ratio is 2.97%.

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.