Stock Traders Buy High Volume of Put Options on Organogenesis (NASDAQ:ORGO)

Organogenesis Holdings Inc. (NASDAQ:ORGO) was the recipient of some unusual options trading activity on Thursday. Traders acquired 2,519 put options on the company. This is an increase of 1,284% compared to the average daily volume of 182 put options.

In other Organogenesis news, CEO Gary S. Gillheeney sold 139,763 shares of Organogenesis stock in a transaction on Friday, July 16th. The shares were sold at an average price of $14.74, for a total transaction of $2,060,106.62. Following the completion of the transaction, the chief executive officer now directly owns 156,230 shares of the company’s stock, valued at $2,302,830.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Michael W. Katz acquired 12,000 shares of the company’s stock in a transaction on Tuesday, August 17th. The shares were purchased at an average cost of $13.55 per share, with a total value of $162,600.00. Following the completion of the purchase, the insider now directly owns 49,282 shares of the company’s stock, valued at $667,771.10. The disclosure for this purchase can be found here. Company insiders own 57.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC raised its holdings in Organogenesis by 3.0% in the second quarter. Parametric Portfolio Associates LLC now owns 252,874 shares of the company’s stock worth $4,203,000 after purchasing an additional 7,318 shares in the last quarter. Comerica Bank bought a new position in Organogenesis in the second quarter worth about $650,000. Morgan Stanley raised its holdings in Organogenesis by 2,249.9% in the second quarter. Morgan Stanley now owns 1,849,596 shares of the company’s stock worth $30,741,000 after purchasing an additional 1,770,888 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in Organogenesis in the second quarter worth about $679,000. Finally, Castleark Management LLC bought a new position in Organogenesis in the second quarter worth about $5,312,000. Institutional investors and hedge funds own 38.41% of the company’s stock.

Shares of ORGO stock traded down $0.47 on Thursday, hitting $15.61. The stock had a trading volume of 1,387,659 shares, compared to its average volume of 1,049,059. The company has a quick ratio of 2.05, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $15.41 and a 200 day moving average price of $17.28. The company has a market cap of $2.01 billion, a PE ratio of 27.88 and a beta of 1.86. Organogenesis has a one year low of $3.36 and a one year high of $24.34.

Organogenesis (NASDAQ:ORGO) last released its quarterly earnings data on Monday, August 9th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.09. The firm had revenue of $123.20 million during the quarter, compared to the consensus estimate of $105.65 million. Organogenesis had a return on equity of 51.16% and a net margin of 16.17%. Equities research analysts expect that Organogenesis will post 0.38 EPS for the current year.

ORGO has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Organogenesis from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Thursday, August 12th. SVB Leerink reissued a “buy” rating on shares of Organogenesis in a research note on Monday. Credit Suisse Group lifted their price objective on Organogenesis from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, August 10th. Finally, BTIG Research began coverage on Organogenesis in a report on Thursday, August 26th. They issued a “buy” rating and a $27.00 price objective for the company. Four research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $23.75.

About Organogenesis

Organogenesis Holdings, Inc is a regenerative medical company. It focuses on the development, manufacture and commercialization of product solutions for the advanced wound care, surgical and sports medicine markets. The company was founded in 1985 and is headquartered in Canton, MA.

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