BTIG Research Reiterates “Buy” Rating for Organogenesis (NASDAQ:ORGO)
by Kim Johansen · The Markets DailyOrganogenesis (NASDAQ:ORGO – Get Free Report)‘s stock had its “buy” rating reiterated by research analysts at BTIG Research in a note issued to investors on Friday,Benzinga reports. They currently have a $9.00 target price on the stock. BTIG Research’s target price points to a potential upside of 52.39% from the company’s previous close.
Several other research analysts have also weighed in on the company. Wall Street Zen upgraded Organogenesis from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Organogenesis in a research note on Monday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.00.
Check Out Our Latest Stock Analysis on ORGO
Organogenesis Price Performance
Organogenesis stock opened at $5.91 on Friday. 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 company has a 50-day moving average price of $5.03 and a 200 day moving average price of $4.59. Organogenesis has a 12-month low of $2.61 and a 12-month high of $7.08. The stock has a market cap of $749.53 million, a P/E ratio of -49.22 and a beta of 1.47.
Organogenesis (NASDAQ:ORGO – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.11. The business had revenue of $150.86 million during the quarter, compared to analysts’ expectations of $134.10 million. Organogenesis had a negative net margin of 1.30% and a positive return on equity of 4.01%. Sell-side analysts anticipate that Organogenesis will post -0.07 earnings per share for the current year.
Insider Transactions at Organogenesis
In other Organogenesis news, Director Glenn H. Nussdorf sold 200,000 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $5.14, for a total transaction of $1,028,000.00. Following the transaction, the director directly owned 2,565,591 shares in the company, valued at $13,187,137.74. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 500,000 shares of company stock valued at $2,620,120 over the last 90 days. 33.00% of the stock is owned by insiders.
Hedge Funds Weigh In On Organogenesis
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Organogenesis by 23.4% during the first quarter. Vanguard Group Inc. now owns 4,431,414 shares of the company’s stock worth $19,144,000 after acquiring an additional 841,618 shares during the period. Invesco Ltd. boosted its holdings in Organogenesis by 779.7% in the 1st quarter. Invesco Ltd. now owns 1,069,252 shares of the company’s stock valued at $4,619,000 after purchasing an additional 947,705 shares in the last quarter. Nuveen LLC acquired a new position in Organogenesis during the 1st quarter worth approximately $742,000. Russell Investments Group Ltd. acquired a new position in Organogenesis during the 1st quarter worth approximately $547,000. Finally, American Century Companies Inc. raised its stake in shares of Organogenesis by 32.7% during the 1st quarter. American Century Companies Inc. now owns 131,220 shares of the company’s stock worth $567,000 after buying an additional 32,328 shares in the last quarter. Institutional investors and hedge funds own 49.57% of the company’s stock.
Organogenesis Company Profile
Organogenesis Inc operates as a regenerative medicine company focused on the development, manufacturing and commercialization of therapeutic solutions for wound care, surgical repair and sports medicine. The company’s product portfolio addresses a range of acute and chronic tissue repair needs, leveraging bioengineered skin substitutes, human placental-derived products and other allografts designed to promote healing and reduce scarring. Organogenesis markets its therapies to hospitals, outpatient clinics, wound care centers and other healthcare providers.
Key offerings include Apligraf, a living skin substitute for treatment of diabetic foot ulcers and venous leg ulcers; Dermagraft, a cryopreserved human fibroblast-derived dermal substitute; Grafix, a placental membrane allograft for complex and chronic wounds; and TheraSkin, a cryopreserved human skin allograft used in surgical and reconstructive procedures.