VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 232,600 Shares of Organon & Co. $OGN

VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Organon & Co. (NYSE:OGN) by 1,062.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 254,500 shares of the company’s stock after acquiring an additional 232,600 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Organon & Co. were worth $1,825,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Amalgamated Bank increased its position in shares of Organon & Co. by 1.9% during the 3rd quarter. Amalgamated Bank now owns 79,805 shares of the company’s stock valued at $852,000 after purchasing an additional 1,514 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Organon & Co. by 0.6% during the 4th quarter. State of Alaska Department of Revenue now owns 278,379 shares of the company’s stock valued at $1,995,000 after purchasing an additional 1,570 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in shares of Organon & Co. by 2.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 58,648 shares of the company’s stock valued at $626,000 after purchasing an additional 1,594 shares during the last quarter. Arizona State Retirement System increased its position in shares of Organon & Co. by 2.2% during the 3rd quarter. Arizona State Retirement System now owns 76,924 shares of the company’s stock valued at $822,000 after purchasing an additional 1,644 shares during the last quarter. Finally, Rothschild Investment LLC increased its position in shares of Organon & Co. by 73.1% during the 3rd quarter. Rothschild Investment LLC now owns 3,899 shares of the company’s stock valued at $42,000 after purchasing an additional 1,646 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

Organon & Co. Trading Up 0.3%

Shares of NYSE OGN opened at $13.40 on Friday. The company has a debt-to-equity ratio of 9.47, a current ratio of 1.97 and a quick ratio of 1.42. The stock has a market capitalization of $3.52 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.24 and a beta of 1.57. Organon & Co. has a 1-year low of $5.69 and a 1-year high of $13.44. The business has a fifty day moving average price of $8.74 and a 200 day moving average price of $8.01.

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

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Monday, May 11th will be paid a $0.02 dividend. The ex-dividend date is Monday, May 11th. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. Organon & Co.’s dividend payout ratio (DPR) is 8.60%.

Insider Buying and Selling

In other Organon & Co. news, SVP Lynette Holzbaur purchased 26,448 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was bought at an average cost of $13.35 per share, for a total transaction of $353,080.80. Following the completion of the purchase, the senior vice president owned 52,851 shares in the company, valued at $705,560.85. This represents a 100.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OGN shares. Zacks Research raised Organon & Co. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Piper Sandler upgraded Organon & Co. from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $5.00 to $14.00 in a report on Tuesday, April 28th. BNP Paribas Exane restated a “neutral” rating and set a $14.00 price objective (up from $12.00) on shares of Organon & Co. in a report on Wednesday, April 29th. Barclays boosted their price objective on Organon & Co. from $7.50 to $8.00 and gave the company an “underweight” rating in a report on Tuesday, February 24th. Finally, Wall Street Zen cut Organon & Co. from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Four research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $11.40.

Organon & Co. Profile

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.