LSV Asset Management boosted its holdings in shares of Organon & Co. (NYSE:OGN – Free Report) by 10.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,349,579 shares of the company’s stock after acquiring an additional 317,727 shares during the quarter. LSV Asset Management owned about 1.31% of Organon & Co. worth $48,301,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OGN. New York State Teachers Retirement System increased its position in shares of Organon & Co. by 20.1% during the 4th quarter. New York State Teachers Retirement System now owns 348,226 shares of the company’s stock worth $5,021,000 after purchasing an additional 58,321 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Organon & Co. by 417.8% during the fourth quarter. State of Alaska Department of Revenue now owns 157,249 shares of the company’s stock valued at $2,267,000 after acquiring an additional 126,882 shares during the last quarter. KLCM Advisors Inc. increased its position in shares of Organon & Co. by 60.4% during the fourth quarter. KLCM Advisors Inc. now owns 999,099 shares of the company’s stock valued at $14,407,000 after acquiring an additional 376,055 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Organon & Co. by 59.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 221,461 shares of the company’s stock valued at $3,193,000 after acquiring an additional 82,239 shares during the period. Finally, UBS Group AG lifted its holdings in shares of Organon & Co. by 88.3% in the 3rd quarter. UBS Group AG now owns 657,912 shares of the company’s stock worth $11,421,000 after acquiring an additional 308,470 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.
Insiders Place Their Bets
In other news, insider Kirke Weaver acquired 2,720 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were bought at an average cost of $18.36 per share, with a total value of $49,939.20. Following the transaction, the insider now owns 15,181 shares in the company, valued at approximately $278,723.16. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.17% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
OGN has been the subject of several research reports. Piper Sandler lifted their target price on shares of Organon & Co. from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Monday, April 29th. The Goldman Sachs Group lifted their price objective on Organon & Co. from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday.
Organon & Co. Price Performance
Shares of NYSE OGN traded up $0.11 during mid-day trading on Friday, hitting $19.61. The company had a trading volume of 3,217,591 shares, compared to its average volume of 2,337,626. The company has a market capitalization of $5.04 billion, a PE ratio of 4.79, a price-to-earnings-growth ratio of 0.92 and a beta of 0.81. The business’s 50-day simple moving average is $18.19 and its 200 day simple moving average is $15.76. Organon & Co. has a 1-year low of $10.84 and a 1-year high of $24.08.
Organon & Co. (NYSE:OGN – Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.14. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.55 billion. Organon & Co. had a negative return on equity of 259.73% and a net margin of 16.50%. On average, analysts expect that Organon & Co. will post 4.1 EPS for the current year.
Organon & Co. Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Monday, May 13th will be paid a $0.28 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.12 dividend on an annualized basis and a yield of 5.71%. Organon & Co.’s dividend payout ratio is currently 27.38%.
About Organon & Co.
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.