OraSure Technologies, Inc. (NASDAQ:OSUR) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) by 24.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 320,419 shares of the medical instruments supplier’s stock after selling 102,134 shares during the quarter. Russell Investments Group Ltd. owned about 0.43% of OraSure Technologies worth $1,157,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of OSUR. Raymond James Financial Inc. purchased a new stake in shares of OraSure Technologies in the fourth quarter valued at $37,000. AXQ Capital LP acquired a new position in OraSure Technologies in the 4th quarter valued at about $51,000. RPO LLC purchased a new position in OraSure Technologies in the 4th quarter valued at about $56,000. US Bancorp DE boosted its stake 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 purchasing an additional 14,698 shares during the last quarter. Finally, Aigen Investment Management LP purchased a new stake in shares of OraSure Technologies during the fourth quarter worth about $76,000. Hedge funds and other institutional investors 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 research note on Tuesday, March 4th.

OraSure Technologies Trading Up 2.4 %

NASDAQ OSUR opened at $2.99 on Monday. The business’s 50-day moving average price is $3.40 and its 200 day moving average price is $3.74. OraSure Technologies, Inc. has a twelve month low of $2.69 and a twelve month high of $5.59. The company has a market capitalization of $223.65 million, a PE ratio of 19.93 and a beta of 0.76.

OraSure Technologies announced that its board has initiated a share buyback plan on Monday, March 24th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the medical instruments supplier to reacquire up to 15.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity

In related news, Director John P. Kenny bought 47,659 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of $3.17 per share, for a total transaction of $151,079.03. Following the completion of the acquisition, the director now owns 70,915 shares in the company, valued at $224,800.55. This trade represents a 204.93 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kenneth J. Mcgrath purchased 64,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were bought at an average cost of $3.15 per share, with a total value of $201,600.00. Following the transaction, the chief financial officer now directly owns 371,013 shares of the company’s stock, valued at $1,168,690.95. The trade was a 20.85 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 190,284 shares of company stock valued at $600,348 in the last 90 days. 3.90% of the stock is currently owned by insiders.

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.