VIRGINIA RETIREMENT SYSTEMS ET Al Raises Stock Holdings in Organon & Co. $OGN

Key Points

• Virginia Retirement Systems ET Al increased its Organon & Co. stake by 1,062.1% in the fourth quarter, ending with 254,500 shares valued at about $1.83 million.
• Organon’s most recent earnings missed expectations, with Q1 revenue of $1.46 billion and EPS of $0.71 versus analysts’ forecast of $0.83. Revenue also declined 3.5% from a year earlier.
• The company announced a quarterly dividend of $0.02 per share, while analysts currently have a consensus rating of “Reduce” and an average price target of $11.40, though the stock recently traded near its 52-week high.

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its position in Organon & Co. (NYSE:OGN - Free Report) by 1,062.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,500 shares of the company's stock after buying an additional 232,600 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.10% of Organon & Co. worth $1,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of OGN. Vanguard Group Inc. boosted its stake in Organon & Co. by 11.3% in the third quarter. Vanguard Group Inc. now owns 35,928,403 shares of the company's stock worth $383,715,000 after buying an additional 3,650,860 shares in the last quarter. AQR Capital Management LLC boosted its stake in Organon & Co. by 136.1% in the second quarter. AQR Capital Management LLC now owns 3,254,884 shares of the company's stock worth $31,507,000 after buying an additional 1,876,264 shares in the last quarter. UBS Group AG boosted its stake in Organon & Co. by 55.2% in the fourth quarter. UBS Group AG now owns 4,295,002 shares of the company's stock worth $30,795,000 after buying an additional 1,527,492 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Organon & Co. by 102.1% during the third quarter. Balyasny Asset Management L.P. now owns 2,240,149 shares of the company's stock valued at $23,925,000 after acquiring an additional 1,131,941 shares in the last quarter. Finally, Gotham Asset Management LLC increased its holdings in shares of Organon & Co. by 37.2% during the third quarter. Gotham Asset Management LLC now owns 3,713,204 shares of the company's stock valued at $39,657,000 after acquiring an additional 1,007,691 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company's stock.

Organon & Co. Stock Up 0.3%

NYSE OGN opened at $13.40 on Friday. The stock's 50-day moving average price is $8.74 and its 200-day moving average price is $8.01. The company has a quick ratio of 1.42, a current ratio of 1.97 and a debt-to-equity ratio of 9.47. Organon & Co. has a 52 week low of $5.69 and a 52 week high of $13.44. The company has a market capitalization of $3.52 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.24 and a beta of 1.57.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.12). The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.49 billion. Organon & Co. had a net margin of 3.99% and a return on equity of 99.95%. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the business posted $1.02 EPS. On average, equities research analysts predict that Organon & Co. will post 3.23 earnings per share for the current year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Monday, May 11th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, May 11th. Organon & Co.'s dividend payout ratio (DPR) is 8.60%.

Insider Transactions at Organon & Co.

In other news, SVP Lynette Holzbaur acquired 26,448 shares of Organon & Co. stock in a transaction on Wednesday, May 6th. The shares were acquired at an average price of $13.35 per share, with a total value of $353,080.80. Following the purchase, the senior vice president directly owned 52,851 shares in the company, valued at $705,560.85. The trade was a 100.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

OGN has been the topic of several recent analyst reports. Piper Sandler raised Organon & Co. from an "underweight" rating to a "neutral" rating and increased their price objective for the company from $5.00 to $14.00 in a research report on Tuesday, April 28th. Zacks Research raised Organon & Co. from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 14th. BNP Paribas Exane reaffirmed a "neutral" rating and set a $14.00 price objective (up from $12.00) on shares of Organon & Co. in a research report on Wednesday, April 29th. Barclays increased their price objective on Organon & Co. from $7.50 to $8.00 and gave the company an "underweight" rating in a research report on Tuesday, February 24th. Finally, Wall Street Zen cut Organon & Co. from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Four equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $11.40.

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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