In a report released yesterday, Ryan Zimmerman from BTIG maintained a Buy rating on Organogenesis Holdings Inc (ORGO), with a price target of $12. The company’s shares closed yesterday at $7.05, close to its 52-week low of $6.28.
Zimmerman observed:
“This morning, ORGO announced that it had won an Innovative Technology contract with Vizient for its Surgical & Sports Medicine product portfolios. Vizient is one of the country’s largest GPOs, representing over 50% of US acute care providers and over 20% of the US ambulatory market with over $100B worth of purchasing power. The organization’s Innovative Technology program was developed in response to the push towards value-based care and aims to identify, through expert panels, “breakthrough solutions” that aid in improving the standard of care and reducing risk to patients. We feel that winning this endorsement across the portfolio, and not solely on the products alone, offers a lens into how ORGO can more broadly grow the top line and diversify revenue outside of PuraPly. We maintain our Buy rating and $12 PT.”
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 34.3% and a 66.0% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and OrthoPediatrics Corp.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Organogenesis Holdings Inc with a $10.75 average price target, a 52.5% upside from current levels. In a report issued on April 16, Oppenheimer also initiated coverage with a Buy rating on the stock with a $11 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 120K.
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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.
