OraSure Technologies (NASDAQ:OSUR) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of OraSure Technologies (NASDAQ:OSUR) from a buy rating to a hold rating in a report published on Tuesday morning.

Separately, Evercore ISI cut their price target on shares of 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. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, OraSure Technologies presently has a consensus rating of Hold and an average price target of $6.38.

OraSure Technologies Stock Up 3.4 %

Shares of NASDAQ:OSUR opened at $5.53 on Tuesday. The company has a market cap of $423.10 million, a P/E ratio of 7.68 and a beta of 0.15. The business has a fifty day simple moving average of $6.42 and a 200-day simple moving average of $6.82. OraSure Technologies has a 52 week low of $4.38 and a 52 week high of $8.45.

OraSure Technologies (NASDAQ:OSUR) last posted its quarterly earnings results on Tuesday, February 27th. The medical instruments supplier reported $0.22 EPS for the quarter, beating the consensus estimate of $0.13 by $0.09. The company had revenue of $75.88 million during the quarter, compared to analysts’ expectations of $74.13 million. OraSure Technologies had a return on equity of 14.50% and a net margin of 13.23%. The firm’s revenue was down 38.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. Sell-side analysts expect that OraSure Technologies will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OraSure Technologies

Several institutional investors have recently bought and sold shares of OSUR. Allspring Global Investments Holdings LLC raised its stake in shares of OraSure Technologies by 135.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 492,477 shares of the medical instruments supplier’s stock valued at $3,029,000 after acquiring an additional 283,001 shares during the period. Counterpoint Mutual Funds LLC acquired a new position in shares of OraSure Technologies during the first quarter worth about $131,000. Los Angeles Capital Management LLC boosted its position in shares of OraSure Technologies by 2.6% in the first quarter. Los Angeles Capital Management LLC now owns 341,125 shares of the medical instruments supplier’s stock worth $2,098,000 after buying an additional 8,523 shares during the period. Cannell Capital LLC grew its stake in shares of OraSure Technologies by 25.8% in the fourth quarter. Cannell Capital LLC now owns 3,549,050 shares of the medical instruments supplier’s stock valued at $29,102,000 after buying an additional 728,459 shares in the last quarter. Finally, Trexquant Investment LP raised its holdings in shares of OraSure Technologies by 155.6% during the 4th quarter. Trexquant Investment LP now owns 165,201 shares of the medical instruments supplier’s stock valued at $1,355,000 after buying an additional 100,557 shares during the period. 93.50% of the stock is currently owned by hedge funds and other 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.