OraSure Technologies (NASDAQ:OSUR) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of OraSure Technologies (NASDAQ:OSUR) from a hold rating to a buy rating in a report released on Wednesday.

Separately, Evercore ISI dropped their price objective on OraSure Technologies from $7.00 to $6.50 and set an in-line rating on the stock in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $6.38.

OraSure Technologies Stock Performance

NASDAQ:OSUR opened at $5.49 on Wednesday. OraSure Technologies has a fifty-two week low of $4.38 and a fifty-two week high of $8.45. The company has a 50 day simple moving average of $6.18 and a two-hundred day simple moving average of $6.79. The company has a market capitalization of $420.04 million, a PE ratio of 7.63 and a beta of 0.23.

OraSure Technologies (NASDAQ:OSUR) last posted its quarterly earnings data on Tuesday, February 27th. The medical instruments supplier reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The company had revenue of $75.88 million for the quarter, compared to analyst estimates of $74.13 million. OraSure Technologies had a net margin of 13.23% and a return on equity of 14.50%. The company’s quarterly revenue was down 38.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. Research analysts predict that OraSure Technologies will post -0.11 EPS for the current year.

Institutional Trading of OraSure Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in OraSure Technologies by 421.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 384,439 shares of the medical instruments supplier’s stock valued at $2,280,000 after acquiring an additional 310,715 shares during the period. Pacer Advisors Inc. grew its position in OraSure Technologies by 122.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,403,333 shares of the medical instruments supplier’s stock valued at $19,707,000 after purchasing an additional 1,323,197 shares during the period. Deutsche Bank AG increased its stake in OraSure Technologies by 3.1% during the 3rd quarter. Deutsche Bank AG now owns 196,468 shares of the medical instruments supplier’s stock valued at $1,165,000 after purchasing an additional 5,875 shares in the last quarter. Vanguard Group Inc. raised its holdings in OraSure Technologies by 1.2% during the third quarter. Vanguard Group Inc. now owns 5,396,285 shares of the medical instruments supplier’s stock worth $32,000,000 after buying an additional 64,367 shares during the last quarter. Finally, Aviva PLC bought a new position in shares of OraSure Technologies in the third quarter valued at $580,000. 93.50% of the stock is owned by institutional investors.

About OraSure Technologies

OraSure Technologies, Inc, together with its subsidiaries, provides point-of-care and home diagnostic tests, specimen collection devices, and microbiome laboratory and analytical services in the United States, Europe, and internationally. The company's products include InteliSwab COVID-19 rapid test, InteliSwab COVID-19 rapid test pro, InteliSwab COVID-19 rapid test rx, OraQuick Rapid HIV test, OraQuick In-Home HIV test, OraQuick HIV self-test, OraQuick HCV rapid antibody test, OraQuick Ebola rapid antigen test, OraSure oral fluid collection device used in conjunction with screening and confirmatory tests for HIV-1 antibodies; Intercept drug testing systems; immunoassay tests and reagents; and Q.E.D.