Organogenesis Holdings Inc (ORGO) Gets a Buy Rating from BTIG

By Ryan Adsit

BTIG analyst Ryan Zimmerman maintained a Buy rating on Organogenesis Holdings Inc (ORGOResearch Report) on May 10 and set a price target of $12. The company’s shares closed on Friday at $7.01, close to its 52-week low of $6.28.

Zimmerman said:

“We maintain our Buy rating and $12 PT on shares of ORGO following 1Q19 results. ORGO topped expectations across the board, with rev. of $57.1M beating BTIG/Consensus estimates of $50.6M/$52.6M bolstered by strength in PuraPly and Surgical & Sports Medicine (S&SM). FY19 guidance was raised by ~$2M (at the midpoint) ($248M-$259M to $249M-$262M) on the back of improved expectations in Surgical & Sports Medicine ($29.5M- $31.0M to $30M-$33M) and despite mfg. issues related to Affinity. We view guidance as a reflection of conservatism but confidence in underlying business fundamentals from increased rep growth, account growth, and further account penetration.”

According to TipRanks.com, Zimmerman is a top 100 analyst with an average return of 41.0% and a 72.3% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and OrthoPediatrics Corp.

Currently, the analyst consensus on Organogenesis Holdings Inc is a Strong Buy with an average price target of $10.75, a 53.4% upside from current levels. In a report issued on May 2, Credit Suisse also initiated coverage with a Buy rating on the stock with a $9 price target.

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The company has a one-year high of $310.90 and a one-year low of $6.28. Currently, Organogenesis Holdings Inc has an average volume of 121.1K.

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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.