Louisiana State Employees Retirement System Invests $691,000 in Organon & Co. $OGN

Louisiana State Employees Retirement System acquired a new stake in Organon & Co. (NYSE:OGN) in the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 115,300 shares of the company’s stock, valued at approximately $691,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Organon & Co. by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 36,916,382 shares of the company’s stock worth $264,690,000 after buying an additional 987,979 shares during the period. State Street Corp boosted its position in Organon & Co. by 2.8% in the 4th quarter. State Street Corp now owns 9,597,761 shares of the company’s stock valued at $68,816,000 after buying an additional 262,185 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Organon & Co. by 105.2% during the fourth quarter. AQR Capital Management LLC now owns 8,570,958 shares of the company’s stock valued at $61,282,000 after acquiring an additional 4,394,814 shares in the last quarter. Private Management Group Inc. increased its position in shares of Organon & Co. by 38.3% during the fourth quarter. Private Management Group Inc. now owns 4,347,073 shares of the company’s stock worth $31,169,000 after acquiring an additional 1,204,979 shares during the last quarter. Finally, UBS Group AG increased its position in shares of Organon & Co. by 55.2% during the fourth quarter. UBS Group AG now owns 4,295,002 shares of the company’s stock worth $30,795,000 after acquiring an additional 1,527,492 shares during the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on OGN shares. Weiss Ratings upgraded Organon & Co. from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Piper Sandler raised shares of Organon & Co. from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $5.00 to $14.00 in a research report on Tuesday, April 28th. BNP Paribas Exane reaffirmed a “neutral” rating and issued a $14.00 price target (up from $12.00) on shares of Organon & Co. in a report on Wednesday, April 29th. Finally, Zacks Research upgraded Organon & Co. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $11.40.

Organon & Co. Stock Performance

Shares of NYSE:OGN traded down $0.03 on Tuesday, reaching $13.54. 83,226 shares of the company’s stock were exchanged, compared to its average volume of 6,581,009. The business’s 50-day moving average is $13.37 and its two-hundred day moving average is $9.59. The company has a quick ratio of 1.42, a current ratio of 1.97 and a debt-to-equity ratio of 9.47. Organon & Co. has a fifty-two week low of $5.69 and a fifty-two week high of $13.60. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.25 and a beta of 1.54.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.12). Organon & Co. had a return on equity of 99.95% and a net margin of 3.99%.The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company earned $1.02 EPS. Organon & Co.’s revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts forecast that Organon & Co. will post 3.23 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Monday, May 11th were given a dividend of $0.02 per share. The ex-dividend date was Monday, May 11th. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. Organon & Co.’s payout ratio is currently 8.60%.

Insiders Place Their Bets

In other Organon & Co. news, SVP Lynette Holzbaur purchased 26,448 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was bought at an average price of $13.35 per share, with a total value of $353,080.80. Following the completion of the purchase, the senior vice president owned 52,851 shares in the company, valued at $705,560.85. This trade represents a 100.17% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.62% of the stock is currently owned by corporate insiders.

Organon & Co. Company Profile

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.