OraSure Technologies (NASDAQ:OSUR) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of OraSure Technologies, Inc. (NASDAQ:OSUR) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.78 and traded as high as $2.99. OraSure Technologies shares last traded at $2.92, with a volume of 402,952 shares.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of OraSure Technologies in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $3.00.

OraSure Technologies Stock Down 2.7%

The stock has a 50 day simple moving average of $2.90 and a 200 day simple moving average of $2.78. The company has a market cap of $201.86 million, a price-to-earnings ratio of -3.14 and a beta of 0.88.

OraSure Technologies (NASDAQ:OSUR) last posted its earnings results on Wednesday, February 25th. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). The company had revenue of $26.76 million during the quarter, compared to analyst estimates of $26.44 million. OraSure Technologies had a negative net margin of 59.76% and a negative return on equity of 16.45%. As a group, equities research analysts expect that OraSure Technologies, Inc. will post -0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Manner Carrie Eglinton bought 32,300 shares of OraSure Technologies stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $2.93 per share, with a total value of $94,639.00. Following the completion of the transaction, the chief executive officer owned 2,190,874 shares in the company, valued at approximately $6,419,260.82. This trade represents a 1.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kenneth J. Mcgrath purchased 32,300 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average cost of $2.93 per share, with a total value of $94,639.00. Following the completion of the acquisition, the chief financial officer owned 589,562 shares in the company, valued at approximately $1,727,416.66. This represents a 5.80% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 108,643 shares of company stock worth $321,407. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of OraSure Technologies

Large investors have recently modified their holdings of the business. Kotler Kevin acquired a new position in shares of OraSure Technologies in the fourth quarter worth about $4,359,000. Altai Capital Management L.P. grew its stake in OraSure Technologies by 73.4% during the 3rd quarter. Altai Capital Management L.P. now owns 3,748,836 shares of the medical instruments supplier’s stock valued at $12,034,000 after purchasing an additional 1,586,488 shares in the last quarter. Millennium Management LLC increased its holdings in OraSure Technologies by 71.1% during the 3rd quarter. Millennium Management LLC now owns 2,112,507 shares of the medical instruments supplier’s stock worth $6,781,000 after purchasing an additional 878,151 shares during the last quarter. Systematic Financial Management LP raised its position in shares of OraSure Technologies by 35.3% in the 2nd quarter. Systematic Financial Management LP now owns 2,229,076 shares of the medical instruments supplier’s stock valued at $6,687,000 after purchasing an additional 581,926 shares in the last quarter. Finally, Archon Capital Management LLC acquired a new position in shares of OraSure Technologies in the 4th quarter valued at approximately $1,388,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

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.