Public Employees Retirement System of Ohio Invests $1.01 Million in Organon & Co. $OGN

Public Employees Retirement System of Ohio bought a new position in Organon & Co. (NYSE:OGN) during the second quarter, HoldingsChannel reports. The fund bought 74,611 shares of the company’s stock, valued at approximately $1,010,000.

Other large investors also recently modified their holdings of the company. Private Management Group Inc. boosted 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 valued at $31,169,000 after buying an additional 1,204,979 shares during the period. California State Teachers Retirement System increased its position in Organon & Co. by 34.8% during the 1st quarter. California State Teachers Retirement System now owns 327,075 shares of the company’s stock valued at $1,959,000 after purchasing an additional 84,497 shares during the period. Orographic Financial Advisors LLC bought a new position in Organon & Co. in the first quarter worth approximately $1,522,000. Sei Investments Co. lifted its stake in shares of Organon & Co. by 82.0% during the 1st quarter. Sei Investments Co. now owns 190,057 shares of the company’s stock worth $1,139,000 after purchasing an additional 85,657 shares during the last quarter. Finally, Brandes Investment Partners LP raised its stake in shares of Organon & Co. by 46.7% during the 4th quarter. Brandes Investment Partners LP now owns 606,499 shares of the company’s stock worth $4,349,000 after acquiring an additional 193,064 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Down 0.1%

Shares of OGN opened at $13.77 on Wednesday. Organon & Co. has a 52-week low of $5.69 and a 52-week high of $13.78. The company has a quick ratio of 1.44, a current ratio of 1.95 and a debt-to-equity ratio of 8.43. The stock has a fifty day simple moving average of $13.62 and a two-hundred day simple moving average of $11.43. The company has a market capitalization of $3.61 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.28 and a beta of 1.52.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, August 14th. Organon & Co.’s payout ratio is presently 10.39%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Organon & Co. from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $11.40.

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.