Organogenesis (NASDAQ:ORGO) Lowered to Neutral Rating by BTIG Research

BTIG Research downgraded shares of Organogenesis (NASDAQ:ORGO) from a buy rating to a neutral rating in a report published on Friday, Marketbeat.com reports.

Several other research firms have also recently commented on ORGO. Wall Street Zen upgraded Organogenesis from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. Weiss Ratings raised Organogenesis from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, February 27th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.50.

Organogenesis Stock Performance

NASDAQ:ORGO opened at $2.37 on Friday. The stock’s 50-day simple moving average is $2.56 and its 200 day simple moving average is $3.89. The company has a quick ratio of 3.32, a current ratio of 3.62 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $304.97 million, a PE ratio of -12.47 and a beta of 1.31. Organogenesis has a twelve month low of $2.04 and a twelve month high of $7.08.

Organogenesis (NASDAQ:ORGO) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.08). The firm had revenue of $37.23 million during the quarter, compared to the consensus estimate of $43.26 million. Organogenesis had a negative net margin of 0.84% and a positive return on equity of 9.47%.

Insider Activity

In related news, Director Michael Joseph Driscoll acquired 10,000 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was bought at an average cost of $2.67 per share, with a total value of $26,700.00. Following the acquisition, the director owned 225,707 shares of the company’s stock, valued at approximately $602,637.69. The trade was a 4.64% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 33.00% of the company’s stock.

Institutional Investors Weigh In On Organogenesis

Hedge funds have recently added to or reduced their stakes in the company. First Light Asset Management LLC increased its position in shares of Organogenesis by 10.6% during the 3rd quarter. First Light Asset Management LLC now owns 7,497,911 shares of the company’s stock valued at $31,641,000 after purchasing an additional 720,748 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Organogenesis by 14.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 5,535,334 shares of the company’s stock valued at $28,673,000 after buying an additional 680,392 shares in the last quarter. Deutsche Bank AG lifted its position in Organogenesis by 0.4% in the 4th quarter. Deutsche Bank AG now owns 3,297,631 shares of the company’s stock worth $17,082,000 after buying an additional 13,301 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Organogenesis by 5.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,891,006 shares of the company’s stock worth $6,851,000 after buying an additional 160,026 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Organogenesis by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 1,786,978 shares of the company’s stock valued at $9,259,000 after acquiring an additional 62,346 shares during the last quarter. Institutional investors own 49.57% of the company’s stock.

About Organogenesis

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.