Organon & Co. (NYSE:OGN) Stock Position Boosted by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its stake in Organon & Co. by 27.3%, now owning 816,736 shares valued at approximately $12.16 million.
• Organon & Co. reported a quarterly earnings per share (EPS) of $1.00, exceeding expectations of $0.94, with revenue of $1.59 billion, slightly above analyst estimates.
• The company announced a quarterly dividend of $0.02 per share, resulting in an annualized dividend yield of 0.9%.

Public Sector Pension Investment Board boosted its holdings in Organon & Co. (NYSE:OGN - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 816,736 shares of the company's stock after purchasing an additional 175,092 shares during the quarter. Public Sector Pension Investment Board owned about 0.31% of Organon & Co. worth $12,161,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OGN. Massachusetts Financial Services Co. MA raised its position in Organon & Co. by 8.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,715,445 shares of the company's stock worth $159,553,000 after buying an additional 820,378 shares during the last quarter. LSV Asset Management increased its holdings in shares of Organon & Co. by 6.1% in the 1st quarter. LSV Asset Management now owns 7,980,775 shares of the company's stock valued at $118,834,000 after purchasing an additional 455,699 shares in the last quarter. Deprince Race & Zollo Inc. increased its holdings in shares of Organon & Co. by 7.0% in the 4th quarter. Deprince Race & Zollo Inc. now owns 4,729,258 shares of the company's stock valued at $70,561,000 after purchasing an additional 308,267 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Organon & Co. by 23.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,284,408 shares of the company's stock valued at $48,999,000 after purchasing an additional 629,191 shares in the last quarter. Finally, Private Management Group Inc. increased its holdings in shares of Organon & Co. by 1.1% in the 1st quarter. Private Management Group Inc. now owns 2,142,010 shares of the company's stock valued at $31,895,000 after purchasing an additional 22,722 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company's stock.

Analyst Upgrades and Downgrades

OGN has been the subject of a number of research analyst reports. Evercore ISI downgraded shares of Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday, May 2nd. Piper Sandler decreased their price target on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. BNP Paribas raised shares of Organon & Co. to a "strong-buy" rating in a research report on Thursday, May 22nd. Finally, Morgan Stanley decreased their target price 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. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $18.00.

Organon & Co. Stock Up 0.3%

Shares of NYSE OGN traded up $0.03 during trading on Thursday, reaching $9.39. 3,578,592 shares of the stock were exchanged, compared to its average volume of 4,750,604. The business's 50-day moving average price is $9.75 and its 200 day moving average price is $11.71. Organon & Co. has a twelve month low of $8.01 and a twelve month high of $23.10. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 11.98. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 3.49, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.06. Organon & Co. had a net margin of 11.15% and a return on equity of 163.88%. The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.55 billion. During the same period in the prior year, the company posted $1.12 earnings per share. The firm's quarterly revenue was down .8% on a year-over-year basis. As a group, equities analysts forecast that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Organon & Co.'s dividend payout ratio is 2.97%.

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.