State of New Jersey Common Pension Fund D Has $2.09 Million Stock Position in Organon & Co. (NYSE:OGN)

State of New Jersey Common Pension Fund D lessened its holdings in shares of Organon & Co. (NYSE:OGN) by 36.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 101,060 shares of the company’s stock after selling 56,907 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Organon & Co. were worth $2,092,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Organon & Co. during the fourth quarter worth about $26,321,000. Coldstream Capital Management Inc. acquired a new stake in Organon & Co. during the 4th quarter worth approximately $237,000. Quest Partners LLC bought a new position in Organon & Co. in the fourth quarter valued at approximately $168,000. Franklin Resources Inc. boosted its holdings in shares of Organon & Co. by 55.7% in the fourth quarter. Franklin Resources Inc. now owns 180,815 shares of the company’s stock valued at $2,607,000 after buying an additional 64,683 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of Organon & Co. by 92.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,321 shares of the company’s stock worth $62,000 after acquiring an additional 2,075 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut shares of Organon & Co. from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $18.00 to $20.00 in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.17.

Organon & Co. Trading Down 3.4 %

NYSE:OGN opened at $19.49 on Friday. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $23.10. The company has a quick ratio of 1.17, a current ratio of 1.64 and a debt-to-equity ratio of 60.05. The business has a 50 day moving average price of $21.04 and a two-hundred day moving average price of $20.07. The company has a market cap of $5.01 billion, a P/E ratio of 4.78, a price-to-earnings-growth ratio of 0.89 and a beta of 0.85.

Organon & Co. (NYSE:OGN) last announced its earnings results on Tuesday, August 6th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.08 by $0.04. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the company posted $1.31 earnings per share. The firm’s revenue was down .1% on a year-over-year basis. As a group, analysts expect that Organon & Co. will post 4.14 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend was Friday, August 16th. Organon & Co.’s payout ratio is 27.38%.

Organon & Co. Profile

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.