New York State Teachers Retirement System Sells 11,546 Shares of Organon & Co. (NYSE:OGN)

New York State Teachers Retirement System reduced its position in shares of Organon & Co. (NYSE:OGN) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 327,876 shares of the company’s stock after selling 11,546 shares during the quarter. New York State Teachers Retirement System owned about 0.13% of Organon & Co. worth $6,272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in OGN. Abich Financial Wealth Management LLC grew its position in shares of Organon & Co. by 5,646.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock worth $45,000 after buying an additional 2,315 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in Organon & Co. in the third quarter valued at about $251,000. International Assets Investment Management LLC boosted its holdings in Organon & Co. by 1,851.8% in the third quarter. International Assets Investment Management LLC now owns 19,089 shares of the company’s stock worth $365,000 after acquiring an additional 18,111 shares in the last quarter. Lecap Asset Management Ltd. grew its stake in shares of Organon & Co. by 23.2% during the third quarter. Lecap Asset Management Ltd. now owns 15,565 shares of the company’s stock worth $298,000 after acquiring an additional 2,934 shares during the last quarter. Finally, Eastern Bank acquired a new position in shares of Organon & Co. during the third quarter valued at about $55,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Trading Down 6.4 %

Shares of Organon & Co. stock opened at $16.92 on Tuesday. The stock has a market cap of $4.36 billion, a PE ratio of 3.36, a price-to-earnings-growth ratio of 0.85 and a beta of 0.84. The firm has a fifty day moving average price of $19.26 and a 200 day moving average price of $20.12. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $23.10. The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). Organon & Co. had a net margin of 20.30% and a return on equity of 2,437.43%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the business posted $0.78 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Equities research analysts predict that Organon & Co. will post 4.04 earnings per share for the current year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.28 per share. The ex-dividend date is Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.62%. Organon & Co.’s payout ratio is 22.22%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on OGN. JPMorgan Chase & Co. lowered Organon & Co. from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $18.00 to $20.00 in a research note on Friday, September 6th. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th.

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.