Organogenesis (NASDAQ:ORGO) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Organogenesis (NASDAQ:ORGO) from a buy rating to a hold rating in a report published on Wednesday, 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 research analysts also recently issued reports about the stock. SVB Leerink reissued a buy rating on shares of Organogenesis in a research report on Monday, September 20th. Credit Suisse Group lifted their target price on shares of Organogenesis from $24.00 to $25.00 and gave the stock an outperform rating in a research report on Tuesday, August 10th. Finally, BTIG Research started coverage on shares of Organogenesis in a research report on Thursday, August 26th. They issued a buy rating and a $27.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Organogenesis currently has an average rating of Buy and an average price target of $23.75.

ORGO stock opened at $11.35 on Wednesday. Organogenesis has a 52 week low of $3.45 and a 52 week high of $24.34. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 20.27 and a beta of 1.86. The firm’s 50-day moving average is $14.88 and its two-hundred day moving average is $16.79. The company has a current ratio of 2.39, a quick ratio of 2.05 and a debt-to-equity ratio of 0.32.

Organogenesis (NASDAQ:ORGO) last released its quarterly earnings results on Monday, August 9th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. Organogenesis had a net margin of 16.17% and a return on equity of 51.16%. The company had revenue of $123.20 million for the quarter, compared to the consensus estimate of $105.65 million. On average, equities research analysts predict that Organogenesis will post 0.38 earnings per share for the current year.

In other news, CEO Gary S. Gillheeney sold 160,237 shares of the business’s stock in a transaction on Monday, July 19th. The shares were sold at an average price of $14.02, for a total value of $2,246,522.74. Following the completion of the sale, the chief executive officer now directly owns 156,230 shares in the company, valued at $2,190,344.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Michael W. Katz acquired 12,000 shares of Organogenesis stock in a transaction dated Tuesday, August 17th. The stock was purchased at an average price of $13.55 per share, with a total value of $162,600.00. Following the completion of the purchase, the insider now directly owns 49,282 shares of the company’s stock, valued at approximately $667,771.10. The disclosure for this purchase can be found here. Insiders own 57.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its stake in shares of Organogenesis by 34.5% in the third quarter. Louisiana State Employees Retirement System now owns 30,400 shares of the company’s stock worth $433,000 after buying an additional 7,800 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Organogenesis by 32.7% in the third quarter. State of Alaska Department of Revenue now owns 45,900 shares of the company’s stock worth $653,000 after buying an additional 11,300 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in Organogenesis during the 2nd quarter valued at $679,000. Parametric Portfolio Associates LLC raised its stake in Organogenesis by 3.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 252,874 shares of the company’s stock valued at $4,203,000 after purchasing an additional 7,318 shares during the last quarter. Finally, Comerica Bank acquired a new position in Organogenesis during the 2nd quarter valued at $650,000. Institutional investors and hedge funds own 38.41% of the company’s stock.

Organogenesis Company Profile

Organogenesis Holdings, Inc is a regenerative medical company. It focuses on the development, manufacture and commercialization of product solutions for the advanced wound care, surgical and sports medicine markets. The company was founded in 1985 and is headquartered in Canton, MA.

See Also: What is a death cross?

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

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.