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

Zacks Investment Research lowered shares of Organogenesis (NASDAQ:ORGO) from a hold rating to a sell rating in a research report report published on Friday morning, 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. “

Other equities analysts have also recently issued research reports about the company. Credit Suisse Group started coverage on Organogenesis in a research note on Monday, August 26th. They set an outperform rating on the stock. BTIG Research set a $12.00 target price 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. Organogenesis presently has an average rating of Buy and a consensus target price of $10.80.



NASDAQ:ORGO opened at $6.50 on Friday. The company has a debt-to-equity ratio of 3.78, a quick ratio of 1.14 and a current ratio of 1.51. Organogenesis has a fifty-two week low of $3.56 and a fifty-two week high of $310.90. The firm’s 50-day simple moving average is $4.84.

Organogenesis (NASDAQ:ORGO) last released its earnings results on Friday, August 9th. The company reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. The business had revenue of $64.95 million for the quarter, compared to analysts’ expectations of $61.00 million. As a group, equities analysts forecast that Organogenesis will post -0.5 earnings per share for the current fiscal year.

In other news, major shareholder Michael W. Katz purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average price of $4.50 per share, with a total value of $45,000.00. Following the purchase, the insider now owns 10,000 shares in the company, valued at approximately $45,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan A. Ades purchased 105,100 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was purchased at an average cost of $4.50 per share, with a total value of $472,950.00. Following the purchase, the director now owns 67,896,723 shares in the company, valued at approximately $305,535,253.50. The disclosure for this purchase can be found here. In the last three months, insiders purchased 1,521,603 shares of company stock valued at $8,499,019. 70.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new stake in shares of Organogenesis in the 2nd quarter valued at approximately $200,000. Bank of New York Mellon Corp bought a new stake in shares of Organogenesis in the 2nd quarter valued at approximately $210,000. Northern Trust Corp grew its stake in shares of Organogenesis by 134.3% in the 2nd quarter. Northern Trust Corp now owns 41,066 shares of the company’s stock valued at $312,000 after buying an additional 23,540 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Organogenesis by 36.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 86,495 shares of the company’s stock valued at $658,000 after buying an additional 23,180 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new stake in shares of Organogenesis in the 2nd quarter valued at approximately $694,000. 1.68% of the stock is 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.

Featured Article: What is a capital gains distribution?

Get a free copy of the Zacks research report on Organogenesis (ORGO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Organogenesis (NASDAQ:ORGO)

Receive News & Ratings for Organogenesis Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Organogenesis and related companies with MarketBeat.com's FREE daily email newsletter.