Organon & Co. $OGN Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Organon & Co. stake by 34.8% in the first quarter, bringing its holdings to 327,075 shares worth approximately $1.96 million. Institutional investors collectively own 77.43% of the company.
• Analyst sentiment remains cautious: Organon has a consensus rating of “Reduce” from MarketBeat, with five Hold ratings and two Sell ratings and an average price target of $11.40, despite some upgrades to neutral.
• OGN recently traded at $13.65, near its 12-month high of $13.66. The company also announced a quarterly dividend of $0.02 per share, equal to an annualized yield of approximately 0.6%.

California State Teachers Retirement System lifted its holdings in Organon & Co. (NYSE:OGN - Free Report) by 34.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 327,075 shares of the company's stock after acquiring an additional 84,497 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Organon & Co. worth $1,959,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of Organon & Co. by 8.5% in the first quarter. Royal Bank of Canada now owns 299,663 shares of the company's stock valued at $1,794,000 after buying an additional 23,456 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Organon & Co. by 8.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 52,816 shares of the company's stock worth $316,000 after acquiring an additional 3,899 shares in the last quarter. Infrastructure Capital Advisors LLC lifted its position in Organon & Co. by 64.7% during the 1st quarter. Infrastructure Capital Advisors LLC now owns 28,001 shares of the company's stock worth $168,000 after acquiring an additional 11,000 shares in the last quarter. SummitTX Capital L.P. purchased a new position in Organon & Co. in the 1st quarter worth approximately $140,000. Finally, OMERS ADMINISTRATION Corp boosted its holdings in Organon & Co. by 11.1% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 71,334 shares of the company's stock worth $427,000 after acquiring an additional 7,100 shares during the period. Hedge funds and other institutional investors own 77.43% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Organon & Co. from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, August 3rd. Zacks Research upgraded shares of Organon & Co. from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 14th. Piper Sandler raised shares of Organon & Co. from an "underweight" rating to a "neutral" rating and raised their price target for the company from $5.00 to $14.00 in a report on Tuesday, April 28th. Finally, 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 note on Wednesday, April 29th. Five analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Organon & Co. has a consensus rating of "Reduce" and an average price target of $11.40.

Organon & Co. Trading Up 0.3%

OGN opened at $13.65 on Wednesday. Organon & Co. has a 12-month low of $5.69 and a 12-month high of $13.66. The company has a debt-to-equity ratio of 8.43, a current ratio of 1.95 and a quick ratio of 1.44. The stock has a market capitalization of $3.59 billion, a PE ratio of 17.73, a P/E/G ratio of 1.26 and a beta of 1.55. The firm's fifty day moving average price is $13.50 and its 200 day moving average price is $10.65.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, August 14th. Organon & Co.'s dividend payout ratio is 10.39%.

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.

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