OraSure Technologies (NASDAQ:OSUR) Lowered to Hold at StockNews.com

OraSure Technologies (NASDAQ:OSUR) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Separately, Evercore ISI reduced their target price on shares of OraSure Technologies from $7.00 to $6.50 and set an “in-line” rating on the stock in a research report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.38.

OraSure Technologies Trading Down 0.5 %

Shares of NASDAQ:OSUR opened at $5.50 on Tuesday. OraSure Technologies has a 52 week low of $4.38 and a 52 week high of $8.45. The firm has a market capitalization of $420.81 million, a P/E ratio of 7.64 and a beta of 0.15. The firm’s 50 day moving average is $6.39 and its two-hundred day moving average is $6.81.

OraSure Technologies (NASDAQ:OSUR) last issued its earnings results on Tuesday, February 27th. The medical instruments supplier reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. OraSure Technologies had a net margin of 13.23% and a return on equity of 14.50%. The company had revenue of $75.88 million during the quarter, compared to analyst estimates of $74.13 million. During the same quarter last year, the business posted $0.21 EPS. The company’s revenue for the quarter was down 38.3% on a year-over-year basis. Analysts predict that OraSure Technologies will post -0.11 EPS for the current year.

Hedge Funds Weigh In On OraSure Technologies

A number of large investors have recently modified their holdings of OSUR. Allspring Global Investments Holdings LLC grew its holdings in shares of OraSure Technologies by 421.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 384,439 shares of the medical instruments supplier’s stock worth $2,280,000 after purchasing an additional 310,715 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of OraSure Technologies by 122.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,403,333 shares of the medical instruments supplier’s stock worth $19,707,000 after purchasing an additional 1,323,197 shares during the last quarter. Deutsche Bank AG raised its position in OraSure Technologies by 3.1% in the 3rd quarter. Deutsche Bank AG now owns 196,468 shares of the medical instruments supplier’s stock worth $1,165,000 after buying an additional 5,875 shares during the last quarter. Vanguard Group Inc. raised its position in OraSure Technologies by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 5,396,285 shares of the medical instruments supplier’s stock worth $32,000,000 after buying an additional 64,367 shares during the last quarter. Finally, Aviva PLC bought a new position in OraSure Technologies in the 3rd quarter worth approximately $580,000. 93.50% of the stock is currently owned by institutional investors.

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.