Handelsbanken Fonder AB Acquires 4,800 Shares of Organon & Co. (NYSE:OGN)

Handelsbanken Fonder AB lifted its holdings in shares of Organon & Co. (NYSE:OGN) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,800 shares of the company’s stock after purchasing an additional 4,800 shares during the quarter. Handelsbanken Fonder AB’s holdings in Organon & Co. were worth $660,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. New York State Teachers Retirement System increased its holdings in shares of Organon & Co. by 20.1% in the 4th quarter. New York State Teachers Retirement System now owns 348,226 shares of the company’s stock worth $5,021,000 after buying an additional 58,321 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Organon & Co. by 417.8% in 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. raised its position in 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 purchasing an additional 376,055 shares in the last quarter. UBS Group AG lifted its stake in Organon & Co. by 88.3% during the third quarter. UBS Group AG now owns 657,912 shares of the company’s stock worth $11,421,000 after purchasing an additional 308,470 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Organon & Co. by 2,016.0% in the 4th quarter. Nordea Investment Management AB now owns 3,128,810 shares of the company’s stock worth $44,648,000 after purchasing an additional 2,980,945 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Price Performance

OGN opened at $18.90 on Tuesday. The stock’s 50 day simple moving average is $18.14 and its 200 day simple moving average is $15.69. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 4.73, a PEG ratio of 0.88 and a beta of 0.82. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $24.79.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.55 billion. As a group, sell-side analysts anticipate that Organon & Co. will post 4.08 EPS for the current year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, February 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date was Friday, February 23rd. Organon & Co.’s dividend payout ratio (DPR) is presently 28.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OGN shares. 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. Piper Sandler boosted their price objective on shares of Organon & Co. from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday.

Insider Buying and Selling at Organon & Co.

In other news, insider Kirke Weaver bought 2,720 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was bought at an average cost of $18.36 per share, for a total transaction of $49,939.20. Following the completion of the acquisition, the insider now owns 15,181 shares in the company, valued at approximately $278,723.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.17% of the company’s stock.

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.