Organogenesis (NASDAQ:ORGO) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Organogenesis (NASDAQ:ORGO) from a hold rating to a sell rating in a report published on Friday, Zacks.com reports.

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. “

Several other equities analysts have also weighed in on the company. Credit Suisse Group initiated coverage on Organogenesis in a research note on Monday, August 26th. They issued an outperform rating on the stock. BTIG Research set a $12.00 price objective on Organogenesis and gave the company a buy rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The company has a consensus rating of Buy and an average price target of $10.80.

Shares of NASDAQ:ORGO opened at $6.71 on Friday. The stock has a 50-day simple moving average of $4.72. The company has a current ratio of 1.51, a quick ratio of 1.14 and a debt-to-equity ratio of 3.78. Organogenesis has a 12-month low of $3.56 and a 12-month high of $310.90.

Organogenesis (NASDAQ:ORGO) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $64.95 million during the quarter, compared to analyst estimates of $61.00 million. Sell-side analysts expect that Organogenesis will post -0.5 earnings per share for the current year.

In other news, major shareholder Michael W. Katz acquired 10,000 shares of Organogenesis stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $4.50 per share, with a total value of $45,000.00. Following the purchase, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $45,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alan A. Ades acquired 105,100 shares of Organogenesis stock in a transaction dated Thursday, September 5th. The stock was purchased at an average cost of $4.50 per share, for a total transaction of $472,950.00. Following the completion of the purchase, the director now directly owns 67,896,723 shares in the company, valued at $305,535,253.50. The disclosure for this purchase can be found here. Insiders bought a total of 1,521,603 shares of company stock worth $8,499,019 over the last ninety days. Corporate insiders own 70.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORGO. BlackRock Inc. lifted its stake in shares of Organogenesis by 716.3% in the 2nd quarter. BlackRock Inc. now owns 554,838 shares of the company’s stock valued at $4,217,000 after purchasing an additional 486,870 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Organogenesis during the 2nd quarter valued at about $694,000. Vanguard Group Inc. raised its holdings in shares of Organogenesis by 33.3% during the 2nd quarter. Vanguard Group Inc. now owns 323,292 shares of the company’s stock valued at $2,457,000 after buying an additional 80,852 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Organogenesis during the 2nd quarter valued at about $210,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Organogenesis during the 2nd quarter valued at about $200,000. 1.68% of the stock is currently owned by institutional investors and hedge funds.

Organogenesis Company Profile

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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