OraSure Technologies (NASDAQ:OSUR) Receives “In-Line” Rating from Evercore ISI

Evercore ISI reiterated their in-line rating on shares of OraSure Technologies (NASDAQ:OSUR) in a research report released on Monday,Benzinga reports. They currently have a $3.00 price objective on the medical instruments supplier’s stock.

Separately, StockNews.com raised shares of OraSure Technologies from a “sell” rating to a “hold” rating in a research report on Saturday.

OraSure Technologies Stock Performance

Shares of OSUR stock opened at $2.63 on Monday. OraSure Technologies has a 52 week low of $2.36 and a 52 week high of $5.08. The company’s 50 day moving average price is $3.06 and its two-hundred day moving average price is $3.55. The company has a market capitalization of $196.72 million, a P/E ratio of 17.53 and a beta of 0.42.

OraSure Technologies announced that its board has approved a stock buyback plan on Monday, March 24th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the medical instruments supplier to buy up to 15.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director John P. Kenny bought 47,659 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $224,800.55. The trade was a 204.93% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kenneth J. Mcgrath purchased 64,000 shares of the stock in a transaction on Thursday, February 27th. The shares were bought at an average cost of $3.15 per share, for a total transaction of $201,600.00. Following the transaction, the chief financial officer now directly owns 371,013 shares in the company, valued at approximately $1,168,690.95. The trade was a 20.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 190,284 shares of company stock valued at $600,348 in the last quarter. 3.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On OraSure Technologies

Institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in OraSure Technologies by 5.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 76,932 shares of the medical instruments supplier’s stock worth $278,000 after purchasing an additional 3,828 shares during the last quarter. Invesco Ltd. lifted its position in shares of OraSure Technologies by 3.4% during the 4th quarter. Invesco Ltd. now owns 127,526 shares of the medical instruments supplier’s stock valued at $460,000 after acquiring an additional 4,240 shares during the period. Significant Wealth Partners LLC grew its stake in shares of OraSure Technologies by 20.8% in the 1st quarter. Significant Wealth Partners LLC now owns 27,067 shares of the medical instruments supplier’s stock valued at $91,000 after buying an additional 4,656 shares during the period. Tower Research Capital LLC TRC grew its stake in OraSure Technologies by 202.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,821 shares of the medical instruments supplier’s stock valued at $28,000 after acquiring an additional 5,234 shares during the period. Finally, Legal & General Group Plc grew its position in OraSure Technologies by 32.3% in the 4th quarter. Legal & General Group Plc now owns 23,626 shares of the medical instruments supplier’s stock valued at $85,000 after purchasing an additional 5,770 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.