Public Employees Retirement System of Ohio Purchases New Position in Organon & Co. $OGN

Key Points

• Public Employees Retirement System of Ohio acquired 74,611 Organon & Co. shares in the second quarter, valued at approximately $1.01 million. Institutional investors and hedge funds collectively own 77.43% of the company.
• Organon shares opened at $13.77, near their 52-week high of $13.78, with a $3.61 billion market capitalization. The stock has risen substantially from its 52-week low of $5.69.
• Analysts remain cautious, with five Hold ratings and two Sell ratings producing a consensus “Reduce” recommendation and a $11.40 target price. The company declared a quarterly dividend of $0.02 per share, equivalent to a 0.6% annual yield.

Public Employees Retirement System of Ohio acquired a new stake in shares of Organon & Co. (NYSE:OGN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 74,611 shares of the company's stock, valued at approximately $1,010,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB boosted its stake in Organon & Co. by 24.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 113,800 shares of the company's stock valued at $1,541,000 after purchasing an additional 22,600 shares during the period. Allied Private Wealth LLC bought a new stake in Organon & Co. during the second quarter worth $33,000. GAMMA Investing LLC boosted its stake in Organon & Co. by 69.8% in the second quarter. GAMMA Investing LLC now owns 5,782 shares of the company's stock valued at $78,000 after buying an additional 2,376 shares in the last quarter. WNY Asset Management LLC bought a new stake in shares of Organon & Co. during the 1st quarter valued at approximately $64,000. Finally, Orographic Financial Advisors LLC acquired a new position in shares of Organon & Co. during the first quarter worth $1,522,000. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Stock Performance

Organon & Co. stock opened at $13.77 on Wednesday. The firm has a market capitalization of $3.61 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.28 and a beta of 1.52. The company has a current ratio of 1.95, a quick ratio of 1.44 and a debt-to-equity ratio of 8.43. The firm's 50 day simple moving average is $13.62 and its 200 day simple moving average is $11.43. Organon & Co. has a 1-year low of $5.69 and a 1-year high of $13.78.

Organon & Co. Dividend Announcement

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Organon & Co. from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, August 3rd. Five equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $11.40.

Organon & Co. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.