Ameriprise Financial Inc. Has $628,000 Stake in OraSure Technologies, Inc. (NASDAQ:OSUR)

Ameriprise Financial Inc. increased its holdings in OraSure Technologies, Inc. (NASDAQ:OSUR) by 65.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,989 shares of the medical instruments supplier’s stock after buying an additional 68,629 shares during the period. Ameriprise Financial Inc. owned 0.23% of OraSure Technologies worth $628,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in OraSure Technologies by 202.3% during 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 purchasing an additional 5,234 shares in the last quarter. Causeway Capital Management LLC acquired a new position in OraSure Technologies during the fourth quarter valued at approximately $36,000. Raymond James Financial Inc. acquired a new position in OraSure Technologies during the fourth quarter valued at approximately $37,000. Boothbay Fund Management LLC acquired a new position in OraSure Technologies during the fourth quarter valued at approximately $42,000. Finally, AXQ Capital LP acquired a new position in OraSure Technologies during the fourth quarter valued at approximately $51,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on OSUR. Evercore ISI restated an “in-line” rating and set a $3.00 price objective on shares of OraSure Technologies in a research report on Monday, May 19th. Wall Street Zen upgraded shares of OraSure Technologies from a “sell” rating to a “hold” rating in a report on Saturday, May 17th.

OraSure Technologies Stock Performance

Shares of NASDAQ:OSUR opened at $2.96 on Wednesday. The company has a fifty day moving average of $2.89 and a 200-day moving average of $3.44. The company has a market capitalization of $221.41 million, a PE ratio of 19.73 and a beta of 0.42. OraSure Technologies, Inc. has a 52-week low of $2.36 and a 52-week high of $4.98.

OraSure Technologies declared that its Board of Directors has initiated a stock repurchase program on Monday, March 24th that authorizes the company to buyback $40.00 million in 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 usually a sign that the company’s board believes its shares are undervalued.

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.