Millennium Management LLC Has $7.79 Million Stake in OraSure Technologies, Inc. (NASDAQ:OSUR)

Millennium Management LLC boosted its position in OraSure Technologies, Inc. (NASDAQ:OSUR) by 16.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,158,450 shares of the medical instruments supplier’s stock after buying an additional 308,420 shares during the period. Millennium Management LLC owned approximately 2.89% of OraSure Technologies worth $7,792,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in OraSure Technologies by 5.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 76,932 shares of the medical instruments supplier’s stock valued at $278,000 after buying an additional 3,828 shares during the period. Invesco Ltd. lifted its holdings in OraSure Technologies by 3.4% in the fourth quarter. Invesco Ltd. now owns 127,526 shares of the medical instruments supplier’s stock valued at $460,000 after buying an additional 4,240 shares during the period. Tower Research Capital LLC TRC lifted its holdings 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 buying an additional 5,234 shares during the period. Legal & General Group Plc lifted its holdings in OraSure Technologies by 32.3% in the fourth quarter. Legal & General Group Plc now owns 23,626 shares of the medical instruments supplier’s stock valued at $85,000 after buying an additional 5,770 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its holdings in OraSure Technologies by 10.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 61,170 shares of the medical instruments supplier’s stock valued at $221,000 after buying an additional 5,929 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

OraSure Technologies Trading Down 1.9%

OSUR opened at $2.52 on Tuesday. OraSure Technologies, Inc. has a 1-year low of $2.36 and a 1-year high of $4.98. The company has a market cap of $188.50 million, a P/E ratio of 16.80 and a beta of 0.42. The company has a fifty day moving average price of $2.97 and a two-hundred day moving average price of $3.49.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on OSUR shares. Evercore ISI restated an “in-line” rating and issued a $3.00 target price on shares of OraSure Technologies in a report on Monday, May 19th. Wall Street Zen raised shares of OraSure Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, May 17th.

Insider Buying and Selling at OraSure Technologies

In other OraSure Technologies news, CEO Manner Carrie Eglinton bought 78,625 shares of the firm’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 transaction, the chief executive officer now directly owns 1,259,664 shares in the company, valued at approximately $3,967,941.60. The trade was a 6.66% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Kenneth J. Mcgrath bought 64,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $3.15 per share, with a total value of $201,600.00. Following the completion of the transaction, the chief financial officer now owns 371,013 shares of the company’s stock, valued at $1,168,690.95. This represents a 20.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 190,284 shares of company stock valued at $600,348. Corporate insiders own 3.90% of the company’s stock.

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.