Organogenesis (NASDAQ:ORGO) Stock Rating Lowered by Zacks Investment Research
According to Zacks, “Organogenesis is a leading regenerative medicine company focused on the development, manufacture and commercialization of solutions for the Advanced Wound Care and Surgical & Sports Medicine markets. “
Other research analysts have also recently issued research reports about the company. BTIG Research set a $12.00 target price on Organogenesis and gave the company a buy rating in a report on Friday, August 9th. Credit Suisse Group initiated coverage on Organogenesis in a report on Monday, August 26th. They issued an outperform rating on the stock. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $10.80.
Organogenesis (NASDAQ:ORGO) last issued its earnings results on Friday, August 9th. The company reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.02. The firm had revenue of $64.95 million during the quarter, compared to analyst estimates of $61.00 million. As a group, analysts anticipate that Organogenesis will post -0.5 earnings per share for the current fiscal year.
In related news, major shareholder Michael W. Katz acquired 10,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were bought at an average cost of $4.50 per share, with a total value of $45,000.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $45,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alan A. Ades acquired 105,100 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was bought at an average cost of $4.50 per share, for a total transaction of $472,950.00. Following the completion of the transaction, the director now directly owns 67,896,723 shares of the company’s stock, valued at $305,535,253.50. The disclosure for this purchase can be found here. Insiders acquired 657,100 shares of company stock worth $3,320,610 over the last three months. 70.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC purchased a new stake in shares of Organogenesis during the second quarter worth about $200,000. Vanguard Group Inc. boosted its stake in Organogenesis by 33.3% in the second quarter. Vanguard Group Inc. now owns 323,292 shares of the company’s stock valued at $2,457,000 after acquiring an additional 80,852 shares during the period. BlackRock Inc. boosted its position in shares of Organogenesis by 716.3% during the second quarter. BlackRock Inc. now owns 554,838 shares of the company’s stock worth $4,217,000 after buying an additional 486,870 shares during the period. Northern Trust Corp boosted its position in shares of Organogenesis by 134.3% during the second quarter. Northern Trust Corp now owns 41,066 shares of the company’s stock worth $312,000 after buying an additional 23,540 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Organogenesis during the second quarter worth approximately $210,000. 1.74% of the stock is currently owned by institutional investors.
Organogenesis Holdings Inc, a regenerative medicine company, focuses on the development, manufacture, and commercialization of solutions for the advanced wound care, and surgical and sports medicine markets primarily in the United States. The company's advanced wound care products include Apligraf for the treatment of venous leg ulcers and diabetic foot ulcers (DFUs); Dermagraft for treating DFUs; PuraPly AM to address biofilm across a range of wound types; and Affinity and NuShield to address various wound sizes and types.
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