OraSure Technologies (NASDAQ:OSUR) Shares Cross Above 200 Day Moving Average – Should You Sell?

OraSure Technologies, Inc. (NASDAQ:OSUR)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.83 and traded as high as $4.33. OraSure Technologies shares last traded at $4.30, with a volume of 780,830 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of OraSure Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $3.00.

OraSure Technologies Trading Up 1.7%

The company has a market cap of $296.06 million, a PE ratio of -4.13 and a beta of 0.89. The business’s 50-day simple moving average is $3.17 and its 200-day simple moving average is $2.83.

OraSure Technologies (NASDAQ:OSUR) last released its quarterly earnings data on Wednesday, February 25th. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The firm had revenue of $26.76 million for the quarter, compared to analyst estimates of $26.44 million. OraSure Technologies had a negative net margin of 66.42% and a negative return on equity of 18.57%.

Insider Activity at OraSure Technologies

In other news, CEO Manner Carrie Eglinton acquired 32,300 shares of OraSure Technologies stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average price of $2.93 per share, with a total value of $94,639.00. Following the completion of the transaction, the chief executive officer owned 2,190,874 shares in the company, valued at approximately $6,419,260.82. This trade represents a 1.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven Kyle Boyd acquired 25,000 shares of OraSure Technologies stock in a transaction that occurred on Thursday, May 14th. The shares were purchased at an average cost of $2.99 per share, with a total value of $74,750.00. Following the transaction, the director owned 113,462 shares of the company’s stock, valued at approximately $339,251.38. The trade was a 28.26% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 158,643 shares of company stock valued at $470,657. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On OraSure Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. lifted its stake in shares of OraSure Technologies by 16.4% in the 3rd quarter. Sei Investments Co. now owns 32,244 shares of the medical instruments supplier’s stock valued at $103,000 after purchasing an additional 4,536 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of OraSure Technologies by 13.3% in the 4th quarter. Russell Investments Group Ltd. now owns 43,636 shares of the medical instruments supplier’s stock valued at $106,000 after purchasing an additional 5,138 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of OraSure Technologies by 4.6% in the 1st quarter. Hsbc Holdings PLC now owns 141,309 shares of the medical instruments supplier’s stock valued at $421,000 after purchasing an additional 6,218 shares during the last quarter. Peapod Lane Capital LLC lifted its stake in shares of OraSure Technologies by 1.1% in the 3rd quarter. Peapod Lane Capital LLC now owns 674,033 shares of the medical instruments supplier’s stock valued at $2,164,000 after purchasing an additional 7,426 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of OraSure Technologies by 102.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,275 shares of the medical instruments supplier’s stock valued at $49,000 after purchasing an additional 7,720 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

About OraSure Technologies

OraSure Technologies, Inc is a Bethlehem, Pennsylvania–based diagnostic and medical device company specializing in the development, manufacture and commercialization of point-of-care and self-testing products. Founded in 1988, OraSure has built a portfolio of oral fluid and other non-invasive specimen collection technologies that support the detection of infectious diseases, drugs of abuse, and health and wellness biomarkers.

The company’s flagship product, the OraQuick® rapid HIV test, was the first Food and Drug Administration–approved over-the-counter oral fluid test for the detection of HIV-1/2 antibodies.