State of New Jersey Common Pension Fund D Acquires 82,239 Shares of Organon & Co. (NYSE:OGN)

State of New Jersey Common Pension Fund D lifted its holdings in Organon & Co. (NYSE:OGN) by 59.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 221,461 shares of the company’s stock after buying an additional 82,239 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.09% of Organon & Co. worth $3,193,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in OGN. Harvest Fund Management Co. Ltd increased its position in Organon & Co. by 495.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,602 shares of the company’s stock worth $28,000 after purchasing an additional 1,333 shares during the period. Lindbrook Capital LLC increased its position in 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 purchasing an additional 1,428 shares during the period. Headlands Technologies LLC acquired a new stake in Organon & Co. in the third quarter worth about $35,000. EverSource Wealth Advisors LLC increased its position in Organon & Co. by 97.7% in the third quarter. EverSource Wealth Advisors LLC now owns 2,246 shares of the company’s stock worth $39,000 after purchasing an additional 1,110 shares during the period. Finally, Clear Street Markets LLC increased its position in Organon & Co. by 588.9% in the third quarter. Clear Street Markets LLC now owns 2,294 shares of the company’s stock worth $40,000 after purchasing an additional 1,961 shares during the period. 77.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group boosted their target price on Organon & Co. from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th.

Organon & Co. Trading Up 0.7 %

Organon & Co. stock opened at $18.55 on Friday. The business has a 50-day moving average of $18.14 and a 200-day moving average of $15.69. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $24.79. The firm has a market capitalization of $4.74 billion, a P/E ratio of 4.64, a PEG ratio of 0.88 and a beta of 0.83.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.14. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. Research analysts anticipate that Organon & Co. will post 4.08 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Monday, February 26th were given a $0.28 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.12 annualized dividend and a dividend yield of 6.04%. Organon & Co.’s dividend payout ratio is presently 28.00%.

Insider Activity at Organon & Co.

In other news, insider Kirke Weaver bought 2,720 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were purchased at an average price of $18.36 per share, for a total transaction of $49,939.20. Following the purchase, the insider now owns 15,181 shares of the company’s stock, valued at approximately $278,723.16. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.17% of the stock is owned by insiders.

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.