Federated Hermes Inc. Sells 356,632 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

Federated Hermes Inc. trimmed its stake in OraSure Technologies, Inc. (NASDAQ:OSUR) by 86.8% during the 4th quarter, HoldingsChannel reports. The fund owned 54,340 shares of the medical instruments supplier’s stock after selling 356,632 shares during the quarter. Federated Hermes Inc.’s holdings in OraSure Technologies were worth $446,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in OSUR. SG Americas Securities LLC boosted its position in shares of OraSure Technologies by 235.1% during the third quarter. SG Americas Securities LLC now owns 41,982 shares of the medical instruments supplier’s stock valued at $249,000 after buying an additional 29,452 shares during the last quarter. Simplicity Solutions LLC grew its stake in shares of OraSure Technologies by 146.4% in the third quarter. Simplicity Solutions LLC now owns 40,036 shares of the medical instruments supplier’s stock worth $237,000 after acquiring an additional 23,789 shares during the period. Inspire Investing LLC purchased a new position in shares of OraSure Technologies during the third quarter valued at approximately $670,000. Allspring Global Investments Holdings LLC lifted its position in OraSure Technologies by 421.5% during 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 purchasing an additional 310,715 shares during the period. Finally, Panagora Asset Management Inc. boosted its holdings in OraSure Technologies by 22.4% in the third quarter. Panagora Asset Management Inc. now owns 387,368 shares of the medical instruments supplier’s stock worth $2,297,000 after purchasing an additional 70,894 shares during the last quarter. 93.50% of the stock is owned by institutional investors.

OraSure Technologies Price Performance

Shares of OraSure Technologies stock opened at $5.49 on Friday. OraSure Technologies, Inc. has a 1-year low of $4.38 and a 1-year high of $8.45. The company’s fifty day simple moving average is $6.18 and its 200-day simple moving average is $6.79. The stock 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 released its earnings results on Tuesday, February 27th. The medical instruments supplier reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.09. OraSure Technologies had a return on equity of 14.50% and a net margin of 13.23%. The company had revenue of $75.88 million for the quarter, compared to the consensus estimate of $74.13 million. During the same period in the previous year, the business earned $0.21 earnings per share. OraSure Technologies’s quarterly revenue was down 38.3% compared to the same quarter last year. As a group, research analysts anticipate that OraSure Technologies, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. StockNews.com upgraded shares of OraSure Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday. Evercore ISI lowered their target price on OraSure Technologies from $7.00 to $6.50 and set an “in-line” rating on the stock in a report on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.38.

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.