OraSure Technologies (NASDAQ:OSUR) Lowered to “Sell” Rating by StockNews.com

StockNews.com cut shares of OraSure Technologies (NASDAQ:OSUR) from a hold rating to a sell rating in a research note released on Friday morning.

OraSure Technologies Price Performance

Shares of OSUR stock opened at $2.51 on Friday. OraSure Technologies has a 1-year low of $2.42 and a 1-year high of $5.55. The business’s fifty day moving average price is $3.16 and its 200 day moving average price is $3.62. The firm has a market capitalization of $194.49 million, a PE ratio of 16.73 and a beta of 0.42.

OraSure Technologies announced that its Board of Directors has approved a stock buyback plan on Monday, March 24th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the medical instruments supplier to reacquire up to 15.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Director John P. Kenny purchased 47,659 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was acquired at an average price of $3.17 per share, with a total value of $151,079.03. Following the purchase, the director now directly owns 70,915 shares of the company’s stock, valued at $224,800.55. This represents a 204.93 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Manner Carrie Eglinton acquired 78,625 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of $3.15 per share, for a total transaction of $247,668.75. Following the completion of the transaction, the chief executive officer now directly owns 1,259,664 shares in the company, valued at approximately $3,967,941.60. This represents a 6.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 190,284 shares of company stock valued at $600,348. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On OraSure Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its stake in shares of OraSure Technologies by 202.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,821 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 5,234 shares in the last quarter. Causeway Capital Management LLC purchased a new position in OraSure Technologies during the fourth quarter worth $36,000. Raymond James Financial Inc. acquired a new position in shares of OraSure Technologies in the fourth quarter worth $37,000. Boothbay Fund Management LLC purchased a new stake in shares of OraSure Technologies in the fourth quarter valued at $42,000. Finally, Gotham Asset Management LLC acquired a new stake in shares of OraSure Technologies during the fourth quarter valued at $43,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.