Franklin Resources Inc. Sells 41,744 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

Franklin Resources Inc. trimmed its holdings in OraSure Technologies, Inc. (NASDAQ:OSUR) by 15.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 227,525 shares of the medical instruments supplier’s stock after selling 41,744 shares during the quarter. Franklin Resources Inc. owned about 0.31% of OraSure Technologies worth $821,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in OraSure Technologies in the 4th quarter valued at $37,000. AXQ Capital LP bought a new position in shares of OraSure Technologies in the 4th quarter valued at about $51,000. US Bancorp DE grew its position in shares of OraSure Technologies by 310.4% during the 4th quarter. US Bancorp DE now owns 19,433 shares of the medical instruments supplier’s stock worth $70,000 after buying an additional 14,698 shares during the period. Aigen Investment Management LP bought a new stake in shares of OraSure Technologies during the fourth quarter worth approximately $76,000. Finally, SG Americas Securities LLC acquired a new position in OraSure Technologies in the fourth quarter valued at approximately $205,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director John P. Kenny acquired 47,659 shares of OraSure Technologies stock in a transaction dated Thursday, February 27th. The shares were bought at an average cost of $3.17 per share, with a total value of $151,079.03. Following the purchase, the director now owns 70,915 shares in the company, valued at $224,800.55. This trade represents a 204.93 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kenneth J. Mcgrath purchased 64,000 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $3.15 per share, for a total transaction of $201,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 371,013 shares in the company, valued at approximately $1,168,690.95. This represents a 20.85 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 190,284 shares of company stock worth $600,348 in the last ninety days. 3.40% of the stock is owned by insiders.

OraSure Technologies Price Performance

Shares of NASDAQ:OSUR opened at $2.92 on Thursday. The company has a market capitalization of $218.42 million, a P/E ratio of 19.47 and a beta of 0.76. The business’s 50 day simple moving average is $3.44 and its 200 day simple moving average is $3.76. OraSure Technologies, Inc. has a 1 year low of $2.69 and a 1 year high of $5.59.

OraSure Technologies announced that its Board of Directors has authorized a stock repurchase program on Monday, March 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the medical instruments supplier to reacquire up to 15.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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.