Here’s Why Organovo Holdings Inc. (ONVO), Seagate Technology PLC (STX) & Three Other Stocks Are on Investors’ Radars Today

The markets have opened lower today, probably affected by disappointing results shown by Alcoa. Major indices are likely to remain jittery during the earnings season.

Among the stocks that are trending in Tuesday intraday session are Organovo Holdings Inc. (NASDAQ:ONVO), Seagate Technology PLC (NASDAQ:STX), Horizon Pharma PLC (NASDAQ:HZNP), St. Jude Medical Inc. (NYSE:STJ), and Staffing 360 Solutions Inc. (NASDAQ:STAF). Let’s take a look at the latest news involving these companies and also discuss what the smart money investors from our database think about them.

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Organovo Holdings Inc. (NASDAQ:ONVO)’s stock inched up following the release of the company’s preliminary results for the second quarter of fiscal 2017 and updated outlook for the full fiscal year. Organovo Holdings expects second-quarter revenue at $1.4 million, which is up by 357% on the year. The company expects its full fiscal year revenue to be in the range of $4.5 million to $6.2 million, up from its previous estimate of $4 million to $6 million. The number of funds tracked by us long Organovo Holdings Inc. (NASDAQ:ONVO) remained unchanged at seven during the second quarter, while the total value of their holdings went up to $2.75 million from $1.25 million.

On the other hand, shares of Seagate Technology PLC (NASDAQ:STX) are over 5% in the red, after the company announced the revenue outlook for its fiscal first quarter. Seagate Technology now expects revenue of $2.8 billion, up from its previous estimate of “at least” $2.7 billion. The company also expects its gross margin to be 29%, up from its earlier outlook of “at least” 27%. Following the news, Seagate Technology’s stock was upgraded by JPMorgan Chase & Co. to ‘Neutral’ from ‘Underweight’; the analysts also raised their price target to $38 from $20. The number of funds from our database long Seagate Technology PLC (NASDAQ:STX) amounted to 23 at the end of June, while the total value of their holdings stood at $563 million, down from $759 million held by 24 funds a quarter earlier.

On the next page, we are going to discuss the developments surrounding Horizon Pharma, St. Jude Medical, and Staffing 360 Solutions.

Horizon Pharma PLC (NASDAQ:HZNP) stock is trading around 5% lower, reacting to the company lowering adjusted EBITDA guidance and non-GAAP net sales for fiscal 2016. The company now expects full fiscal 2016 adjusted EBITDA of $450 million to $460 million, down from the previous range of $495-$510 million, while non-GAAP net sales are expected at the lower side of previously announced guidance range of $1.025 billion to $1.050 billion. A total of 27 funds from our database have positions in Horizon Pharma PLC (NASDAQ:HZNP) as of the end of June, down from 35 funds a quarter earlier. These funds held around $648 million worth of the company’s stock, which represented 24.50% of float at the end of the second quarter.

St. Jude Medical Inc. (NYSE:STJ) stock dipped amid news of the company’s defibrillator battery issues. St. Jude Medical said that batteries in its implanted heart devices may deplete unexpectedly and reported about two deaths associated with battery malfunctioning. The situation may require the replacement of some devices. The company has advised physicians to replace such devices immediately. At the end of June, 54 funds we track held shares of St. Jude Medical Inc. (NYSE:STJ), down by 10 over the quarter.

Staffing 360 Solutions Inc. (NASDAQ:STAF) stock has surged by around 20% after the company announced its financial results for the first quarter of fiscal 2017. Staffing 360 Solutions posted revenue of $47.8 million in revenue, up by 33.1% on the year and $370,000 above estimates. the company’s adjusted EBITDA increased by 184% on the year to $1.8 million, while its net loss narrowed by 22.2% to $1.30 million. With a holding of 136,583 shares of Staffing 360 Solutions Inc. (NASDAQ:STAF), Hal Mintz’s Sabby Capital was the only investor tracked by us that was long the stock at the end of June.

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