Maryland State Retirement & Pension System Reduces Stake in Organon & Co. (NYSE:OGN)

Maryland State Retirement & Pension System cut its holdings in Organon & Co. (NYSE:OGN) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 111,475 shares of the company’s stock after selling 793 shares during the period. Maryland State Retirement & Pension System’s holdings in Organon & Co. were worth $1,961,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of OGN. Lindbrook Capital LLC boosted its holdings in Organon & Co. by 348.3% in the 4th quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock worth $27,000 after buying an additional 1,428 shares during the period. Gladius Capital Management LP boosted its holdings in Organon & Co. by 65.1% in the 4th quarter. Gladius Capital Management LP now owns 2,176 shares of the company’s stock worth $31,000 after buying an additional 858 shares during the period. GAMMA Investing LLC bought a new position in Organon & Co. in the 4th quarter worth approximately $38,000. Eagle Bay Advisors LLC boosted its holdings in Organon & Co. by 100.0% in the 4th quarter. Eagle Bay Advisors LLC now owns 2,800 shares of the company’s stock worth $40,000 after buying an additional 1,400 shares during the period. Finally, Allworth Financial LP boosted its holdings in Organon & Co. by 68.8% in the 4th quarter. Allworth Financial LP now owns 3,136 shares of the company’s stock worth $45,000 after buying an additional 1,278 shares during the period. 77.43% of the stock is owned by institutional investors.

Organon & Co. Price Performance

NYSE:OGN traded down $0.31 during trading hours on Friday, hitting $20.00. The stock had a trading volume of 199,827 shares, compared to its average volume of 2,350,970. The company has a 50 day simple moving average of $20.62 and a two-hundred day simple moving average of $18.25. The company has a debt-to-equity ratio of 181.35, a current ratio of 1.65 and a quick ratio of 1.15. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 4.97, a P/E/G ratio of 0.88 and a beta of 0.85. Organon & Co. has a one year low of $10.84 and a one year high of $24.08.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.31. The firm had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a net margin of 16.50% and a negative return on equity of 360.57%. Research analysts forecast that Organon & Co. will post 4.3 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Monday, May 13th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.60%. The ex-dividend date of this dividend was Friday, May 10th. Organon & Co.’s dividend payout ratio (DPR) is currently 27.38%.

Wall Street Analyst Weigh In

OGN has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, April 29th. The Goldman Sachs Group raised their price target on shares of Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, May 3rd.

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.