Public Sector Pension Investment Board Has $12.16 Million Holdings in Organon & Co. (NYSE:OGN)

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 grew its position in Organon & Co. (NYSE:OGN - Free Report) by 27.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 816,736 shares of the company's stock after purchasing an additional 175,092 shares during the period. Public Sector Pension Investment Board owned approximately 0.31% of Organon & Co. worth $12,161,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Treasurer of the State of North Carolina grew its position in Organon & Co. by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 113,120 shares of the company's stock valued at $1,688,000 after acquiring an additional 710 shares during the period. SBI Securities Co. Ltd. raised its stake in Organon & Co. by 17.6% during the first quarter. SBI Securities Co. Ltd. now owns 7,653 shares of the company's stock valued at $114,000 after buying an additional 1,145 shares in the last quarter. Rafferty Asset Management LLC raised its stake in Organon & Co. by 5.6% during the fourth quarter. Rafferty Asset Management LLC now owns 22,627 shares of the company's stock valued at $338,000 after buying an additional 1,194 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Organon & Co. by 1.5% during the 1st quarter. Handelsbanken Fonder AB now owns 81,565 shares of the company's stock worth $1,215,000 after purchasing an additional 1,200 shares during the period. Finally, Freedom Investment Management Inc. increased its position in Organon & Co. by 12.0% in the 4th quarter. Freedom Investment Management Inc. now owns 11,344 shares of the company's stock valued at $169,000 after acquiring an additional 1,218 shares during the period. 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 reports. Evercore ISI lowered Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. BNP Paribas upgraded Organon & Co. to a "strong-buy" rating in a report on Thursday, May 22nd. Piper Sandler cut their target price on Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Finally, Morgan Stanley cut their target price on Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Organon & Co. presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

Organon & Co. Trading Up 0.4%

Shares of OGN stock traded up $0.04 on Friday, hitting $9.43. The stock had a trading volume of 3,048,686 shares, compared to its average volume of 4,732,525. Organon & Co. has a twelve month low of $8.01 and a twelve month high of $23.10. The firm has a market cap of $2.45 billion, a P/E ratio of 3.51, a PEG ratio of 0.98 and a beta of 0.60. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 11.98. The company has a fifty day moving average price of $9.75 and a two-hundred day moving average price of $11.63.

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

Organon & Co. Announces Dividend

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 given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 15th. Organon & Co.'s dividend payout ratio is presently 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.