Organogenesis’ (ORGO) Buy Rating Reaffirmed at BTIG Research

BTIG Research reissued their buy rating on shares of Organogenesis (NASDAQ:ORGO) in a research report released on Monday,Benzinga reports. They currently have a $9.00 price target on the stock.

A number of other research firms have also recently weighed in on ORGO. Wall Street Zen raised shares of Organogenesis from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Organogenesis in a research note on Monday, December 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.00.

Organogenesis Stock Performance

Shares of ORGO stock opened at $4.83 on Monday. The company has a current ratio of 3.32, a quick ratio of 2.88 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $4.77 and a 200-day simple moving average of $4.46. The company has a market cap of $612.98 million, a price-to-earnings ratio of -40.25 and a beta of 1.47. Organogenesis has a 12-month low of $2.61 and a 12-month high of $7.08.

Organogenesis (NASDAQ:ORGO) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. Organogenesis had a positive return on equity of 4.01% and a negative net margin of 1.30%.The firm had revenue of $150.86 million for the quarter, compared to the consensus estimate of $134.10 million. On average, equities analysts forecast that Organogenesis will post -0.07 EPS for the current year.

Insider Buying and Selling at Organogenesis

In other news, Director Glenn H. Nussdorf sold 187,957 shares of the firm’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $5.29, for a total value of $994,292.53. Following the completion of the transaction, the director owned 2,765,591 shares in the company, valued at $14,629,976.39. This trade represents a 6.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 300,000 shares of company stock valued at $1,592,120 in the last three months. Company insiders own 33.00% of the company’s stock.

Institutional Investors Weigh In On Organogenesis

Several institutional investors and hedge funds have recently made changes to their positions in the business. First Light Asset Management LLC purchased a new position in Organogenesis during the 2nd quarter valued at about $24,804,000. Assenagon Asset Management S.A. lifted its holdings in shares of Organogenesis by 748.1% in the second quarter. Assenagon Asset Management S.A. now owns 2,857,904 shares of the company’s stock valued at $10,460,000 after purchasing an additional 2,520,941 shares in the last quarter. Driehaus Capital Management LLC acquired a new stake in shares of Organogenesis in the first quarter valued at approximately $7,756,000. Invesco Ltd. increased its stake in shares of Organogenesis by 779.7% during the 1st quarter. Invesco Ltd. now owns 1,069,252 shares of the company’s stock worth $4,619,000 after purchasing an additional 947,705 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Organogenesis by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 4,431,414 shares of the company’s stock worth $19,144,000 after purchasing an additional 841,618 shares in the last quarter. 49.57% of the stock is currently owned by hedge funds and other institutional investors.

About Organogenesis

Organogenesis Holdings Inc, a regenerative medicine company, develops, manufactures, and commercializes solutions for the advanced wound care, and surgical and sports medicine markets in the United States. The company's advanced wound care products include Affinity, an amniotic membrane in which viable cells, growth factors/cytokines, and ECM proteins in the native tissue are preserved; Novachor, a chorion membrane in which viable cells, growth factors/cytokines, and ECM proteins in the native tissue are preserved; Apligraf, a bioengineered living cell therapy that produce spectrum of cytokines and growth factors; Dermagraft, a bioengineered product that produces human collagen, ECM, proteins, cytokines, and growth factors; NuShield, dehydrated placental tissue covering amnion and chorion membranes for spongy/intermediate layer intact; and PuraPly AM, an antimicrobial barrier that enables conformability and fluid drainage.