OraSure Technologies (NASDAQ:OSUR) Declares Share Buyback Program

OraSure Technologies (NASDAQ:OSUR) declared that its board has initiated a stock buyback plan on Monday, March 24th, RTT News reports. The company plans to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the medical instruments supplier to reacquire up to 15.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Separately, StockNews.com cut shares of OraSure Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th.

OraSure Technologies Price Performance

OSUR stock opened at $3.49 on Wednesday. OraSure Technologies has a 1 year low of $2.69 and a 1 year high of $6.36. The company has a market cap of $261.05 million, a P/E ratio of 23.27 and a beta of -0.02. The stock’s fifty day moving average price is $3.71 and its 200-day moving average price is $3.90.

Insider Buying and Selling at OraSure Technologies

In other OraSure Technologies news, Director John P. Kenny acquired 47,659 shares of the stock in a transaction dated Thursday, February 27th. The shares were purchased at an average price of $3.17 per share, for a total transaction of $151,079.03. Following the purchase, the director now directly owns 70,915 shares of the company’s stock, valued at approximately $224,800.55. This trade represents a 204.93 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kenneth J. Mcgrath acquired 64,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average cost of $3.15 per share, for a total transaction of $201,600.00. Following the acquisition, the chief financial officer now owns 371,013 shares of the company’s stock, valued at $1,168,690.95. The trade was a 20.85 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 190,284 shares of company stock valued at $600,348. 3.40% of the stock is owned by company insiders.

OraSure Technologies Company 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.