First Light Asset Management LLC lowered its stake in Organogenesis (NASDAQ:ORGO – Free Report) by 9.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,498,533 shares of the company’s stock after selling 364,287 shares during the quarter. First Light Asset Management LLC owned about 2.72% of Organogenesis worth $8,292,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Organogenesis during the 4th quarter valued at approximately $5,686,000. Flax Pond Capital LLC bought a new stake in Organogenesis during the 4th quarter worth approximately $2,197,000. Millennium Management LLC lifted its holdings in Organogenesis by 481.2% during the fourth quarter. Millennium Management LLC now owns 483,742 shares of the company’s stock valued at $2,506,000 after purchasing an additional 400,514 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Organogenesis by 199.4% during the fourth quarter. SG Americas Securities LLC now owns 565,501 shares of the company’s stock valued at $2,929,000 after purchasing an additional 376,623 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Organogenesis by 742.2% in the fourth quarter. Wells Fargo & Company MN now owns 353,365 shares of the company’s stock worth $1,830,000 after purchasing an additional 311,409 shares during the period. 49.57% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
ORGO has been the subject of a number of analyst reports. UBS Group set a $3.00 price objective on shares of Organogenesis in a research note on Thursday, May 28th. Weiss Ratings cut shares of Organogenesis from a “hold (c)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Organogenesis from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. BTIG Research lowered Organogenesis from a “buy” rating to a “neutral” rating in a research note on Friday, May 8th. Finally, Truist Financial started coverage on Organogenesis in a report on Thursday, May 28th. They set a “hold” rating and a $3.00 price target on the stock. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Organogenesis currently has an average rating of “Hold” and a consensus target price of $5.75.
Organogenesis Price Performance
NASDAQ:ORGO opened at $2.39 on Monday. The company has a current ratio of 3.53, a quick ratio of 3.16 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $307.55 million, a P/E ratio of -12.58 and a beta of 1.33. Organogenesis has a 12 month low of $2.04 and a 12 month high of $7.08. The business’s 50-day moving average is $2.47 and its 200 day moving average is $2.87.
Organogenesis (NASDAQ:ORGO – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.08). The firm had revenue of $37.23 million for the quarter, compared to analysts’ expectations of $43.26 million. Organogenesis had a negative net margin of 0.84% and a positive return on equity of 9.63%.
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.
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