Illinois Municipal Retirement Fund Buys Shares of 155,320 Organon & Co. (NYSE:OGN)

Illinois Municipal Retirement Fund purchased a new position in shares of Organon & Co. (NYSE:OGN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 155,320 shares of the company’s stock, valued at approximately $2,240,000. Illinois Municipal Retirement Fund owned approximately 0.06% of Organon & Co. at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Fruth Investment Management lifted its holdings in shares of Organon & Co. by 1.9% in the fourth quarter. Fruth Investment Management now owns 37,040 shares of the company’s stock valued at $534,000 after purchasing an additional 700 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Organon & Co. by 15.9% during the third quarter. Daiwa Securities Group Inc. now owns 6,032 shares of the company’s stock worth $105,000 after buying an additional 828 shares in the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of Organon & Co. by 7.3% in the third quarter. New Mexico Educational Retirement Board now owns 13,268 shares of the company’s stock worth $230,000 after acquiring an additional 900 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Organon & Co. by 7.6% in the third quarter. Mackenzie Financial Corp now owns 13,148 shares of the company’s stock valued at $214,000 after acquiring an additional 932 shares in the last quarter. Finally, Beddow Capital Management Inc. boosted its stake in shares of Organon & Co. by 1.8% during the third quarter. Beddow Capital Management Inc. now owns 52,879 shares of the company’s stock valued at $918,000 after acquiring an additional 946 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Insider Buying and Selling

In other news, insider Kirke Weaver purchased 2,720 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were acquired at an average price of $18.36 per share, for a total transaction of $49,939.20. Following the completion of the acquisition, the insider now directly owns 15,181 shares of the company’s stock, valued at $278,723.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.17% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Organon & Co. Trading Down 1.5 %

Shares of NYSE OGN opened at $18.43 on Friday. Organon & Co. has a twelve month low of $10.84 and a twelve month high of $24.79. The firm has a 50-day moving average of $18.14 and a two-hundred day moving average of $15.69. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 4.61, a PEG ratio of 0.89 and a beta of 0.83.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results 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 company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.55 billion. As a group, research analysts predict that Organon & Co. will post 4.08 earnings per share for the current year.

Organon & Co. Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 6.08%. Organon & Co.’s dividend payout ratio (DPR) is 28.00%.

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.