JPMorgan Chase & Co. Sells 65,076 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

JPMorgan Chase & Co. lessened its holdings in OraSure Technologies, Inc. (NASDAQ:OSUR) by 7.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 782,857 shares of the medical instruments supplier’s stock after selling 65,076 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.05% of OraSure Technologies worth $2,826,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in OraSure Technologies in the fourth quarter valued at approximately $37,000. AXQ Capital LP bought a new position in shares of OraSure Technologies in the 4th quarter worth $51,000. US Bancorp DE grew its stake in shares of OraSure Technologies by 310.4% during the fourth 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 period. Aigen Investment Management LP bought a new stake in OraSure Technologies in the fourth quarter valued at about $76,000. Finally, SG Americas Securities LLC acquired a new position in OraSure Technologies in the fourth quarter valued at about $205,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other OraSure Technologies news, Director John P. Kenny purchased 47,659 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were bought at an average price of $3.17 per share, with a total value of $151,079.03. Following the completion of the transaction, the director now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Manner Carrie Eglinton acquired 78,625 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of $3.15 per share, for a total transaction of $247,668.75. Following the acquisition, the chief executive officer now directly owns 1,259,664 shares in the company, valued at $3,967,941.60. This represents a 6.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 190,284 shares of company stock worth $600,348. Corporate insiders own 3.90% of the company’s stock.

OraSure Technologies Stock Up 3.1 %

Shares of OSUR stock opened at $2.96 on Wednesday. OraSure Technologies, Inc. has a 12-month low of $2.69 and a 12-month high of $5.59. The firm has a fifty day moving average of $3.37 and a 200-day moving average of $3.72. The firm has a market capitalization of $221.41 million, a price-to-earnings ratio of 19.73 and a beta of 0.76.

OraSure Technologies announced that its Board of Directors has approved a share repurchase program 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 purchase up to 15.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

OraSure Technologies 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.