Wells Fargo & Company MN Sells 102,047 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

Wells Fargo & Company MN reduced its holdings in OraSure Technologies, Inc. (NASDAQ:OSUR) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 673,980 shares of the medical instruments supplier’s stock after selling 102,047 shares during the quarter. Wells Fargo & Company MN owned about 0.90% of OraSure Technologies worth $2,433,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. American Century Companies Inc. boosted its stake in OraSure Technologies by 11.4% during the 4th quarter. American Century Companies Inc. now owns 2,345,837 shares of the medical instruments supplier’s stock valued at $8,468,000 after purchasing an additional 240,224 shares during the period. Geode Capital Management LLC lifted its holdings in shares of OraSure Technologies by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 1,844,139 shares of the medical instruments supplier’s stock worth $6,659,000 after buying an additional 46,325 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of OraSure Technologies by 5.8% during the third quarter. JPMorgan Chase & Co. now owns 847,933 shares of the medical instruments supplier’s stock worth $3,621,000 after buying an additional 46,216 shares during the last quarter. Peapod Lane Capital LLC acquired a new stake in shares of OraSure Technologies in the fourth quarter worth $1,730,000. Finally, Empowered Funds LLC grew its stake in shares of OraSure Technologies by 5.1% in the fourth quarter. Empowered Funds LLC now owns 377,906 shares of the medical instruments supplier’s stock worth $1,364,000 after acquiring an additional 18,487 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Insider Activity

In other OraSure Technologies news, CFO Kenneth J. Mcgrath purchased 64,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average price of $3.15 per share, for a total transaction 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 approximately $1,168,690.95. This trade represents a 20.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Manner Carrie Eglinton bought 78,625 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $3.15 per share, with a total value of $247,668.75. Following the completion of the acquisition, the chief executive officer now owns 1,259,664 shares in the company, valued at $3,967,941.60. This represents a 6.66 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 190,284 shares of company stock worth $600,348. Company insiders own 3.90% of the company’s stock.

OraSure Technologies Stock Up 1.0 %

Shares of OSUR opened at $3.03 on Friday. The stock’s 50-day moving average price is $3.33 and its 200 day moving average price is $3.71. OraSure Technologies, Inc. has a 12-month low of $2.69 and a 12-month high of $5.59. The firm has a market capitalization of $226.64 million, a price-to-earnings ratio of 20.20 and a beta of 0.76.

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

Analyst Ratings Changes

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

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.