Why Shares of Organogenesis Holdings Jumped Thursday
Shares of Organogenesis Holdings (NASDAQ: ORGO) were up more than 30% Thursday afternoon after the healthcare company released first-quarter earnings after market close on Wednesday. The stock is up a little more than 2% so far this year.
Organogenesis makes products for the advanced wound care, surgical, and sports medicine markets, using regenerative tissue-based technologies that heal chronic and acute wounds. The company reported first-quarter revenue of $107.6 million, up 10% year over year. The company operates in two segments -- advanced wound care and surgical & sports medicine -- but the former was the star for the quarter, with a 12% increase in sales over the same period last year.
In the company's earnings call, Organogenesis president and CEO Gary Gillheeney said the biggest drivers of sales in the quarter came from its PuraPly antimicrobial wound mix and non-PuraPly products, such as NuShield, a dehydrated placental allograft wound covering.
Source Fool.com
