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

Illinois Municipal Retirement Fund grew its holdings in Organon & Co. (NYSE:OGN - Free Report) by 48.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 205,508 shares of the company's stock after purchasing an additional 67,141 shares during the quarter. Illinois Municipal Retirement Fund owned 0.08% of Organon & Co. worth $3,060,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Millstone Evans Group LLC purchased a new stake in Organon & Co. during the 4th quarter worth about $29,000. Larson Financial Group LLC increased its stake in shares of Organon & Co. by 345.4% during the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company's stock worth $33,000 after buying an additional 1,734 shares during the period. Riverview Trust Co increased its stake in shares of Organon & Co. by 117.7% during the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company's stock worth $36,000 after buying an additional 1,292 shares during the period. GeoWealth Management LLC acquired a new stake in Organon & Co. in the fourth quarter valued at approximately $41,000. Finally, Jones Financial Companies Lllp lifted its stake in Organon & Co. by 1,795.8% in the fourth quarter. Jones Financial Companies Lllp now owns 4,550 shares of the company's stock worth $68,000 after acquiring an additional 4,310 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company's stock.

Analyst Ratings Changes

OGN has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. Piper Sandler lowered their target price on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Evercore ISI cut Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. Finally, BNP Paribas raised Organon & Co. to a "strong-buy" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, two have assigned 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 company currently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

Insider Buying and Selling at Organon & Co.

In other Organon & Co. news, insider Kirke Weaver acquired 8,045 shares of the stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $9.21 per share, with a total value of $74,094.45. Following the transaction, the insider now owns 52,489 shares of the company's stock, valued at approximately $483,423.69. This trade represents a 18.10% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Daniel Karp bought 3,500 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $8.24 per share, with a total value of $28,840.00. Following the purchase, the vice president now directly owns 46,669 shares of the company's stock, valued at approximately $384,552.56. This trade represents a 8.11% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 102,345 shares of company stock worth $902,430. 1.40% of the stock is owned by insiders.

Organon & Co. Trading Down 1.1%

Shares of Organon & Co. stock opened at $9.87 on Monday. The company has a current ratio of 1.67, a quick ratio of 1.15 and a debt-to-equity ratio of 16.49. The company has a fifty day simple moving average of $9.77 and a 200-day simple moving average of $13.01. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 3.43, a PEG ratio of 1.03 and a beta of 0.59. Organon & Co. has a 12-month low of $8.01 and a 12-month high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.13. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.53 billion. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. Organon & Co.'s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 earnings per share. On average, equities analysts forecast that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Monday, May 12th. Organon & Co.'s dividend payout ratio (DPR) is 2.78%.

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.

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