Organogenesis (NASDAQ:ORGO) Shares Gap Down Following Weak Earnings

Shares of Organogenesis Holdings Inc. (NASDAQ:ORGO) gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $5.34, but opened at $4.66. Organogenesis shares last traded at $3.90, with a volume of 16,282 shares changing hands.

The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.17). The business had revenue of $86.69 million for the quarter, compared to analysts’ expectations of $90.77 million. Organogenesis had a negative net margin of 1.62% and a negative return on equity of 2.69%.

Wall Street Analyst Weigh In

Separately, Morgan Stanley increased their price objective on Organogenesis from $4.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 5th.

Insider Buying and Selling

In related news, Director Michael Joseph Driscoll sold 25,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $5.10, for a total transaction of $127,500.00. Following the transaction, the director now owns 166,879 shares of the company’s stock, valued at approximately $851,082.90. This represents a 13.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 36.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Organogenesis

A number of institutional investors and hedge funds have recently bought and sold shares of ORGO. Assenagon Asset Management S.A. boosted its stake in shares of Organogenesis by 54.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,950,849 shares of the company’s stock valued at $9,443,000 after purchasing an additional 1,035,120 shares during the period. Vanguard Group Inc. lifted its holdings in Organogenesis by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 4,431,414 shares of the company’s stock worth $19,144,000 after buying an additional 841,618 shares in the last quarter. Soleus Capital Management L.P. boosted its position in Organogenesis by 5.4% in the 4th quarter. Soleus Capital Management L.P. now owns 12,484,876 shares of the company’s stock valued at $39,952,000 after buying an additional 645,000 shares during the period. SG Americas Securities LLC grew its stake in shares of Organogenesis by 1,158.6% in the first quarter. SG Americas Securities LLC now owns 525,421 shares of the company’s stock worth $2,270,000 after acquiring an additional 483,675 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Organogenesis during the fourth quarter worth $1,543,000. 49.57% of the stock is currently owned by hedge funds and other institutional investors.

Organogenesis Stock Performance

The firm has a market capitalization of $386.90 million, a price-to-earnings ratio of -50.83 and a beta of 1.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.09 and a quick ratio of 2.74. The firm has a 50 day moving average price of $4.65 and a 200-day moving average price of $3.90.

About Organogenesis

Organogenesis Holdings Inc, a regenerative medicine company, develops, manufactures, and commercializes solutions for the advanced wound care, and surgical and sports medicine markets in the United States. The company's advanced wound care products include Affinity, an amniotic membrane in which viable cells, growth factors/cytokines, and ECM proteins in the native tissue are preserved; Novachor, a chorion membrane in which viable cells, growth factors/cytokines, and ECM proteins in the native tissue are preserved; Apligraf, a bioengineered living cell therapy that produce spectrum of cytokines and growth factors; Dermagraft, a bioengineered product that produces human collagen, ECM, proteins, cytokines, and growth factors; NuShield, dehydrated placental tissue covering amnion and chorion membranes for spongy/intermediate layer intact; and PuraPly AM, an antimicrobial barrier that enables conformability and fluid drainage.