Public Employees Retirement System of Ohio Sells 23,948 Shares of Organon & Co. $OGN

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Organon & Co. by 22.9%, selling 23,948 shares, and now holds 80,625 shares valued at $780,000.
• Organon & Co. recently reported $1.00 EPS, surpassing analysts’ expectations of $0.94, but its revenue was down 0.8% year-over-year at $1.59 billion.
• The company declared a quarterly dividend of $0.02 per share, representing an annualized yield of 0.7%, reflecting a payout ratio of 2.97%.

Public Employees Retirement System of Ohio lowered its stake in Organon & Co. (NYSE:OGN - Free Report) by 22.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,625 shares of the company's stock after selling 23,948 shares during the period. Public Employees Retirement System of Ohio's holdings in Organon & Co. were worth $780,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of OGN. Ransom Advisory Ltd bought a new stake in Organon & Co. during the 1st quarter worth $32,000. Brooklyn Investment Group grew its holdings in shares of Organon & Co. by 1,012.3% during the first quarter. Brooklyn Investment Group now owns 3,070 shares of the company's stock worth $46,000 after purchasing an additional 2,794 shares during the last quarter. Ridgewood Investments LLC acquired a new position in shares of Organon & Co. in the second quarter valued at approximately $48,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Organon & Co. in the first quarter valued at approximately $51,000. Finally, GAMMA Investing LLC raised its holdings in Organon & Co. by 22.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,645 shares of the company's stock valued at $55,000 after buying an additional 1,034 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Stock Up 0.8%

Organon & Co. stock opened at $11.03 on Monday. 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. has a 52-week low of $8.01 and a 52-week high of $19.05. The firm has a 50 day moving average price of $9.86 and a two-hundred day moving average price of $10.34. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 4.10, a PEG ratio of 1.00 and a beta of 0.63.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.06. Organon & Co. had a net margin of 11.15% and a return on equity of 163.88%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the firm posted $1.12 EPS. The company's quarterly revenue was down .8% on a year-over-year basis. Organon & Co. has set its FY 2025 guidance at EPS. Equities analysts predict that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 15th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.7%. Organon & Co.'s dividend payout ratio is 2.97%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (d+)" rating on shares of Organon & Co. in a report on Saturday, September 27th. 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 assigned a Sell rating to the company's stock. According to MarketBeat, Organon & Co. currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.33.

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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