Prudential Financial Inc. Has $865,000 Stake in OraSure Technologies, Inc. (NASDAQ:OSUR)

Prudential Financial Inc. lessened its position in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) by 25.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 239,572 shares of the medical instruments supplier’s stock after selling 83,400 shares during the period. Prudential Financial Inc. owned 0.32% of OraSure Technologies worth $865,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Peapod Lane Capital LLC bought a new position in shares of OraSure Technologies in the 4th quarter worth about $1,730,000. American Century Companies Inc. increased its holdings in OraSure Technologies by 11.4% in the fourth quarter. American Century Companies Inc. now owns 2,345,837 shares of the medical instruments supplier’s stock worth $8,468,000 after purchasing an additional 240,224 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in OraSure Technologies in the fourth quarter valued at approximately $664,000. Barclays PLC boosted its holdings in shares of OraSure Technologies by 182.6% during the 3rd quarter. Barclays PLC now owns 195,793 shares of the medical instruments supplier’s stock worth $836,000 after buying an additional 126,503 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of OraSure Technologies during the 4th quarter worth approximately $287,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

OraSure Technologies Stock Performance

Shares of NASDAQ:OSUR opened at $3.01 on Tuesday. OraSure Technologies, Inc. has a 52-week low of $2.69 and a 52-week high of $6.05. The business’s 50 day simple moving average is $3.61 and its two-hundred day simple moving average is $3.83. The firm has a market cap of $225.15 million, a P/E ratio of 20.07 and a beta of 0.76.

OraSure Technologies declared that its Board of Directors has authorized a stock repurchase plan on Monday, March 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the medical instruments supplier to repurchase up to 15.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th.

Insider Buying and Selling

In related news, CFO Kenneth J. Mcgrath acquired 64,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $3.15 per share, with a total value of $201,600.00. Following the completion of the purchase, the chief financial officer now directly owns 371,013 shares in the company, valued at $1,168,690.95. This trade represents a 20.85 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Manner Carrie Eglinton bought 78,625 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $3.15 per share, for a total transaction of $247,668.75. Following the transaction, the chief executive officer now owns 1,259,664 shares of the company’s stock, valued at $3,967,941.60. The trade was a 6.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 190,284 shares of company stock worth $600,348 in the last ninety days. Corporate insiders own 3.40% of the company’s stock.

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.