BlackRock Inc. Purchases Shares of 7,249,528 Organogenesis $ORGO

Key Points

• BlackRock acquired 7.25 million Organogenesis shares in the second quarter, valued at approximately $17.6 million, giving it a 5.63% stake. Institutional investors collectively own 49.57% of the company.
• Analyst sentiment is weak, with a consensus “Reduce” rating and a $4.33 target price; recent firms downgraded the stock or lowered price targets, including Truist Financial’s reduction to $2.00.
• Organogenesis reported disappointing quarterly results, including an adjusted loss of $0.71 per share versus the expected $0.35 loss and revenue of $43.76 million versus the $54.27 million consensus estimate. Shares opened at $1.64, near their 52-week low of $1.54.

BlackRock Inc. acquired a new position in Organogenesis (NASDAQ:ORGO - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,249,528 shares of the company's stock, valued at approximately $17,616,000. BlackRock Inc. owned 5.63% of Organogenesis as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Pallas Capital Advisors LLC bought a new position in shares of Organogenesis during the second quarter valued at approximately $37,000. Deutsche Bank AG bought a new stake in Organogenesis in the second quarter valued at $4,146,000. Bank of New York Mellon Corp bought a new stake in Organogenesis in the second quarter valued at $777,000. State of Wyoming purchased a new position in Organogenesis during the 2nd quarter valued at $204,000. Finally, Bank of America Corp DE raised its holdings in Organogenesis by 4.3% in the 1st quarter. Bank of America Corp DE now owns 548,262 shares of the company's stock worth $1,299,000 after purchasing an additional 22,452 shares in the last quarter. 49.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ORGO shares. Weiss Ratings lowered shares of Organogenesis from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, August 21st. UBS Group set a $3.00 price objective on Organogenesis in a research report on Thursday, May 28th. Wall Street Zen downgraded Organogenesis from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. BTIG Research cut Organogenesis from a "buy" rating to a "neutral" rating in a research note on Friday, May 8th. Finally, Truist Financial reduced their price target on Organogenesis from $3.00 to $2.00 and set a "hold" rating on the stock in a research note on Friday, August 7th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $4.33.

Organogenesis Price Performance

Shares of NASDAQ ORGO opened at $1.64 on Friday. The company has a 50 day simple moving average of $2.18 and a two-hundred day simple moving average of $2.47. Organogenesis has a fifty-two week low of $1.54 and a fifty-two week high of $7.08. The company has a market capitalization of $211.04 million, a price-to-earnings ratio of -1.91 and a beta of 1.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.00 and a current ratio of 3.52.

Organogenesis (NASDAQ:ORGO - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.71) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.36). The company had revenue of $43.76 million during the quarter, compared to the consensus estimate of $54.27 million. Organogenesis had a negative return on equity of 23.89% and a negative net margin of 19.94%.

Organogenesis Company Profile

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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