Gary S. Gillheeney, President and CEO of Organogenesis Holdings Inc. (NASDAQ:ORGO), recently executed several transactions involving the company's stock. According to InvestingPro data, ORGO's stock has shown significant volatility, with a 31.6% gain over the past six months despite recent pullbacks. On December 5, Gillheeney exercised stock options to acquire 1,067,245 shares of Class A common stock at a price of $0.99 per share. Subsequently, he sold a total of 59,468 shares over two separate transactions.
The first sale, conducted on December 6, involved 18,416 shares at a weighted average price of $3.65 per share, amounting to $67,617. The second sale took place on December 9, with 41,052 shares sold at a weighted average price of $3.52 per share, totaling $144,104. The combined sales generated proceeds of $211,721. The company currently maintains strong liquidity with a current ratio of 3.09, operating with moderate debt levels.
Following these transactions, Gillheeney holds 3,359,726 shares of Organogenesis stock directly. The company, with a market capitalization of $465 million, currently trades near its InvestingPro Fair Value. Discover more insights and 10 additional ProTips for ORGO through a comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Organogenesis Holdings Inc. reported a significant increase in their third-quarter fiscal year 2024 earnings. The company's net revenue reached $115.2 million, surpassing the projected range of $105 million to $113 million, demonstrating a year-over-year growth of 6%. This was mainly driven by a 7% revenue increase in the advanced wound care segment, which totaled $108 million. In response to the strong quarter, Organogenesis raised its revenue guidance for 2024 to a range of $455 million to $480 million, indicating a potential year-over-year growth ranging from 5% to 11%. Cantor Fitzgerald adjusted its outlook on Organogenesis, increasing the price target to $3.80 from the previous $3.50, while reaffirming its Overweight rating on the company's shares. The company also entered into an agreement to repurchase 500,000 shares of its Class A common stock from the GN 2016 Family Trust for $4.057 per share. This decision aligns with the company's strategic financial management and reflects its ongoing efforts to optimize shareholder value. These are recent developments that signify Organogenesis' commitment to its growth strategy and operational execution.
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