OraSure Technologies (NASDAQ:OSUR) Share Price Passes Above 200 Day Moving Average – What’s Next?

OraSure Technologies, Inc. (NASDAQ:OSUR)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.82 and traded as high as $3.01. OraSure Technologies shares last traded at $2.86, with a volume of 506,349 shares changing hands.

Analysts Set New Price Targets

OSUR has been the topic of several research analyst reports. Stephens lowered their target price on shares of OraSure Technologies from $3.50 to $3.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 12th. Weiss Ratings reissued a “sell (d)” rating on shares of OraSure Technologies in a report on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $3.00.

OraSure Technologies Trading Down 2.1%

The stock has a market cap of $205.15 million, a P/E ratio of -3.58 and a beta of 0.87. The company’s 50 day moving average price is $2.55 and its two-hundred day moving average price is $2.82.

OraSure Technologies (NASDAQ:OSUR) last announced its earnings results on Wednesday, November 5th. The medical instruments supplier reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. OraSure Technologies had a negative net margin of 47.92% and a negative return on equity of 13.61%. The business had revenue of $27.09 million during the quarter, compared to analysts’ expectations of $28.96 million. On average, sell-side analysts anticipate that OraSure Technologies, Inc. will post -0.08 earnings per share for the current year.

Hedge Funds Weigh In On OraSure Technologies

Several institutional investors and hedge funds have recently bought and sold shares of OSUR. Farther Finance Advisors LLC purchased a new stake in OraSure Technologies in the second quarter worth about $26,000. Prudential Financial Inc. purchased a new position in shares of OraSure Technologies during the 2nd quarter valued at about $31,000. Nierenberg Investment Management Company Inc. bought a new position in shares of OraSure Technologies during the 2nd quarter valued at approximately $35,000. L2 Asset Management LLC purchased a new stake in OraSure Technologies in the 2nd quarter worth approximately $39,000. Finally, Coldstream Capital Management Inc. increased its holdings in OraSure Technologies by 128.2% in the 2nd quarter. Coldstream Capital Management Inc. now owns 13,308 shares of the medical instruments supplier’s stock worth $40,000 after acquiring an additional 7,477 shares in the last quarter. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

OraSure Technologies Company Profile

OraSure Technologies, Inc is a Bethlehem, Pennsylvania–based diagnostic and medical device company specializing in the development, manufacture and commercialization of point-of-care and self-testing products. Founded in 1988, OraSure has built a portfolio of oral fluid and other non-invasive specimen collection technologies that support the detection of infectious diseases, drugs of abuse, and health and wellness biomarkers.

The company’s flagship product, the OraQuick® rapid HIV test, was the first Food and Drug Administration–approved over-the-counter oral fluid test for the detection of HIV-1/2 antibodies.