Illinois Municipal Retirement Fund Makes New Investment in Organon & Co. (NYSE:OGN)

Illinois Municipal Retirement Fund purchased a new stake in Organon & Co. (NYSE:OGN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 155,320 shares of the company's stock, valued at approximately $2,240,000. Illinois Municipal Retirement Fund owned about 0.06% of Organon & Co. as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in Organon & Co. by 2,016.0% during the fourth quarter. Nordea Investment Management AB now owns 3,128,810 shares of the company's stock worth $44,648,000 after buying an additional 2,980,945 shares during the last quarter. Invesco Ltd. boosted its holdings in Organon & Co. by 23.7% during the third quarter. Invesco Ltd. now owns 10,240,630 shares of the company's stock worth $177,777,000 after buying an additional 1,963,682 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in Organon & Co. by 140,626.7% during the fourth quarter. Sound Income Strategies LLC now owns 489,729 shares of the company's stock worth $7,062,000 after buying an additional 489,381 shares during the last quarter. FMR LLC boosted its holdings in Organon & Co. by 28.3% during the third quarter. FMR LLC now owns 2,189,693 shares of the company's stock worth $38,013,000 after buying an additional 483,257 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Organon & Co. by 4.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,280,300 shares of the company's stock worth $161,106,000 after buying an additional 436,034 shares during the last quarter. Institutional investors own 77.43% of the company's stock.

Insider Activity at Organon & Co.

In other news, insider Kirke Weaver bought 2,720 shares of the company's stock in a transaction that occurred on Thursday, February 22nd. The shares were acquired at an average price of $18.36 per share, with a total value of $49,939.20. Following the transaction, the insider now owns 15,181 shares in the company, valued at $278,723.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.17% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group lifted their price objective on Organon & Co. from $16.00 to $18.00 and gave the company a "neutral" rating in a report on Tuesday, February 20th.

Organon & Co. Trading Up 0.7 %

Shares of NYSE:OGN traded up $0.12 during trading on Friday, hitting $18.55. 2,049,739 shares of the company's stock traded hands, compared to its average volume of 2,712,787. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $24.79. The company has a market cap of $4.74 billion, a price-to-earnings ratio of 4.64, a price-to-earnings-growth ratio of 0.89 and a beta of 0.83. The company has a 50-day moving average price of $18.14 and a 200-day moving average price of $15.70.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.14. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. The business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.55 billion. On average, analysts predict that Organon & Co. will post 4.08 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, February 26th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend was Friday, February 23rd. Organon & Co.'s dividend payout ratio is presently 28.00%.

About Organon & Co.

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.