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

Maryland State Retirement & Pension System lessened its stake in shares of Organon & Co. (NYSE:OGN) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,035 shares of the company’s stock after selling 2,440 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Organon & Co. were worth $2,257,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Organon & Co. during the 4th quarter valued at about $3,336,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in shares of Organon & Co. during the 4th quarter valued at about $1,850,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Organon & Co. during the 1st quarter valued at about $6,284,000. Friedenthal Financial bought a new position in shares of Organon & Co. in the 2nd quarter worth approximately $769,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of Organon & Co. by 156.5% in the 4th quarter. Allianz Asset Management GmbH now owns 1,900,554 shares of the company’s stock worth $27,406,000 after purchasing an additional 1,159,519 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group increased their price objective on shares of Organon & Co. from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, May 3rd.

Organon & Co. Stock Performance

Shares of NYSE:OGN traded up $0.04 during trading on Friday, hitting $22.35. The company’s stock had a trading volume of 1,446,988 shares, compared to its average volume of 2,223,694. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $23.10. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 5.46, a P/E/G ratio of 0.90 and a beta of 0.85. The company has a 50-day moving average of $20.93 and a 200-day moving average of $19.80. 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 earnings results on Tuesday, August 6th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the business earned $1.31 EPS. The firm’s revenue was down .1% compared to the same quarter last year. On average, sell-side analysts expect that Organon & Co. will post 4.14 earnings per share for the current year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is 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.