Organon & Co. (NYSE:OGN) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its holdings in Organon & Co. (NYSE:OGN) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 111,475 shares of the company’s stock after selling 793 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Organon & Co. were worth $1,961,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Lindbrook Capital LLC raised its position in shares of Organon & Co. by 348.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock worth $27,000 after acquiring an additional 1,428 shares during the period. Gladius Capital Management LP raised its position in Organon & Co. by 65.1% during the fourth quarter. Gladius Capital Management LP now owns 2,176 shares of the company’s stock worth $31,000 after acquiring an additional 858 shares during the period. Tompkins Financial Corp increased its stake in shares of Organon & Co. by 450.7% during the first quarter. Tompkins Financial Corp now owns 2,412 shares of the company’s stock worth $45,000 after purchasing an additional 1,974 shares in the last quarter. GAMMA Investing LLC purchased a new position in Organon & Co. in the 4th quarter valued at about $38,000. Finally, Hexagon Capital Partners LLC boosted its holdings in Organon & Co. by 123.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 2,628 shares of the company’s stock worth $49,000 after buying an additional 1,454 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Trading Down 1.5 %

Shares of OGN stock traded down $0.31 during trading hours on Friday, hitting $20.00. The company had a trading volume of 199,827 shares, compared to its average volume of 2,350,970. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $24.08. 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 company’s fifty day moving average is $20.62 and its 200 day moving average is $18.25. The stock has a market capitalization of $5.14 billion, a PE ratio of 4.97, a price-to-earnings-growth ratio of 0.88 and a beta of 0.85.

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

Organon & Co. Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on OGN shares. Piper Sandler increased their price objective on Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. The Goldman Sachs Group lifted their price objective on Organon & Co. from $18.00 to $20.00 and gave the stock a “neutral” rating in a research 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.