Organogenesis (NASDAQ:ORGO) Cut to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Organogenesis to “strong sell”, while other firms also lowered ratings or price targets. The stock carries a consensus “Reduce” rating with an average price target of $4.33.
• Organogenesis shares were down 22.8%, opening at $1.86 and trading near their 52-week low of $1.54. The company recently reported a quarterly loss of $0.71 per share, missing estimates by $0.36, while revenue of $43.76 million fell short of expectations.
• Despite the weak outlook, institutional ownership remains significant at 49.57%, with several investment firms adding to their positions during the first and second quarters.

Organogenesis (NASDAQ:ORGO - Get Free Report) was downgraded by analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Saturday.

Several other research firms have also recently issued reports on ORGO. Truist Financial dropped their target price on Organogenesis from $3.00 to $2.00 and set a "hold" rating on the stock in a research report on Friday. Weiss Ratings cut Organogenesis from a "hold (c)" rating to a "sell (d)" rating in a report on Monday, May 11th. UBS Group set a $3.00 price target on Organogenesis in a report on Thursday, May 28th. Finally, BTIG Research downgraded Organogenesis from a "buy" rating to a "neutral" rating in a research note on Friday, May 8th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $4.33.

Organogenesis Stock Down 22.8%

Shares of NASDAQ:ORGO opened at $1.86 on Friday. Organogenesis has a fifty-two week low of $1.54 and a fifty-two week high of $7.08. The company has a quick ratio of 3.16, a current ratio of 3.53 and a debt-to-equity ratio of 0.05. The firm's 50-day simple moving average is $2.42 and its 200-day simple moving average is $2.76. The company has a market cap of $239.34 million, a price-to-earnings ratio of -2.16 and a beta of 1.34.

Organogenesis (NASDAQ:ORGO - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.36). The firm had revenue of $43.76 million for the quarter, compared to analysts' expectations of $54.27 million. Organogenesis had a negative return on equity of 21.24% and a negative net margin of 19.94%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORGO. Strs Ohio acquired a new stake in shares of Organogenesis during the 1st quarter worth about $105,000. Creative Planning raised its position in shares of Organogenesis by 84.5% in the second quarter. Creative Planning now owns 35,392 shares of the company's stock valued at $130,000 after buying an additional 16,205 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Organogenesis in the second quarter valued at approximately $222,000. American Century Companies Inc. lifted its stake in shares of Organogenesis by 25.6% during the second quarter. American Century Companies Inc. now owns 164,793 shares of the company's stock valued at $603,000 after buying an additional 33,573 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Organogenesis by 36.6% during the second quarter. Russell Investments Group Ltd. now owns 168,152 shares of the company's stock valued at $617,000 after buying an additional 45,021 shares during the period. 49.57% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source