First Light Asset Management LLC Grows Position in Organogenesis $ORGO

First Light Asset Management LLC boosted its position in Organogenesis (NASDAQ:ORGO) by 10.6% during the 3rd quarter, Holdings Channel reports. The fund owned 7,497,911 shares of the company’s stock after acquiring an additional 720,748 shares during the quarter. Organogenesis makes up 3.0% of First Light Asset Management LLC’s portfolio, making the stock its 11th biggest holding. First Light Asset Management LLC owned 0.06% of Organogenesis worth $31,641,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in Organogenesis by 27.2% during the 3rd quarter. Bank of America Corp DE now owns 611,685 shares of the company’s stock worth $2,581,000 after acquiring an additional 130,875 shares in the last quarter. Creative Planning raised its holdings in shares of Organogenesis by 8.2% in the 3rd quarter. Creative Planning now owns 38,279 shares of the company’s stock valued at $162,000 after purchasing an additional 2,887 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Organogenesis by 57.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,522 shares of the company’s stock valued at $61,000 after purchasing an additional 5,273 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Organogenesis by 209.3% during the 3rd quarter. Franklin Resources Inc. now owns 72,223 shares of the company’s stock worth $305,000 after purchasing an additional 48,873 shares during the last quarter. Finally, Nwam LLC purchased a new stake in shares of Organogenesis during the 3rd quarter worth $82,000. Hedge funds and other institutional investors own 49.57% of the company’s stock.

Organogenesis Price Performance

Shares of ORGO opened at $2.64 on Monday. Organogenesis has a fifty-two week low of $2.61 and a fifty-two week high of $7.08. The company has a market capitalization of $339.61 million, a price-to-earnings ratio of 33.00 and a beta of 1.43. The firm has a 50-day simple moving average of $3.70 and a 200-day simple moving average of $4.45. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.32 and a current ratio of 3.62.

Organogenesis (NASDAQ:ORGO) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.10. The firm had revenue of $225.61 million for the quarter, compared to analysts’ expectations of $172.68 million. Organogenesis had a return on equity of 21.41% and a net margin of 5.32%. On average, equities research analysts anticipate that Organogenesis will post -0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ORGO shares. Weiss Ratings raised Organogenesis from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, February 27th. BTIG Research decreased their price target on Organogenesis from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, February 27th. Finally, Wall Street Zen raised Organogenesis from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.50.

Insider Activity at Organogenesis

In related news, Director Michael Joseph Driscoll purchased 10,000 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was acquired at an average price of $2.67 per share, for a total transaction of $26,700.00. Following the completion of the purchase, the director directly owned 225,707 shares of the company’s stock, valued at $602,637.69. This trade represents a 4.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glenn H. Nussdorf sold 200,000 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $5.14, for a total value of $1,028,000.00. Following the sale, the director directly owned 2,565,591 shares of the company’s stock, valued at approximately $13,187,137.74. This represents a 7.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 33.00% of the company’s stock.

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.