OraSure Technologies (NASDAQ:OSUR) Posts Earnings Results, Hits Estimates

OraSure Technologies (NASDAQ:OSUR) posted its earnings results on Wednesday. The medical instruments supplier reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04, Briefing.com reports. The firm had revenue of $54.10 million during the quarter, compared to the consensus estimate of $52.27 million. OraSure Technologies had a net margin of 13.23% and a return on equity of 14.50%. The firm’s revenue for the quarter was down 65.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS. OraSure Technologies updated its Q2 2024 guidance to EPS.

OraSure Technologies Trading Down 4.1 %

Shares of OraSure Technologies stock traded down $0.22 during trading on Thursday, reaching $5.09. The company’s stock had a trading volume of 686,814 shares, compared to its average volume of 864,688. The firm has a market cap of $389.44 million, a PE ratio of 6.89 and a beta of 0.23. The company has a 50-day moving average price of $6.07 and a two-hundred day moving average price of $6.80. OraSure Technologies has a fifty-two week low of $4.38 and a fifty-two week high of $8.45.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. StockNews.com upgraded shares of OraSure Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Evercore ISI decreased their price target on shares of OraSure Technologies from $7.00 to $6.50 and set an “in-line” rating for the company in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, OraSure Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $6.38.

OraSure Technologies Company Profile

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.