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

StockNews.com cut shares of OraSure Technologies (NASDAQ:OSUR) from a hold rating to a sell rating in a report released on Friday morning.

OraSure Technologies Trading Down 3.5%

Shares of NASDAQ OSUR opened at $2.51 on Friday. OraSure Technologies has a twelve month low of $2.42 and a twelve month high of $5.55. The company has a market capitalization of $194.49 million, a price-to-earnings ratio of 16.73 and a beta of 0.42. The firm has a 50-day moving average of $3.16 and a two-hundred day moving average of $3.61.

OraSure Technologies announced that its Board of Directors has authorized a share buyback plan on Monday, March 24th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the medical instruments supplier to repurchase up to 15.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at OraSure Technologies

In other OraSure Technologies news, Director John P. Kenny purchased 47,659 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was bought at an average cost of $3.17 per share, with a total value of $151,079.03. Following the acquisition, the director now owns 70,915 shares of the company’s stock, valued at $224,800.55. The trade was a 204.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kenneth J. Mcgrath purchased 64,000 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $3.15 per share, with a total value of $201,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 371,013 shares in the company, 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. In the last three months, insiders acquired 190,284 shares of company stock valued at $600,348. 3.90% of the stock is owned by insiders.

Institutional Trading of OraSure Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in OraSure Technologies by 5.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 76,932 shares of the medical instruments supplier’s stock worth $278,000 after buying an additional 3,828 shares during the period. Invesco Ltd. raised its holdings in OraSure Technologies by 3.4% during the 4th quarter. Invesco Ltd. now owns 127,526 shares of the medical instruments supplier’s stock worth $460,000 after buying an additional 4,240 shares during the period. Significant Wealth Partners LLC raised its holdings in OraSure Technologies by 20.8% during the 1st quarter. Significant Wealth Partners LLC now owns 27,067 shares of the medical instruments supplier’s stock worth $91,000 after buying an additional 4,656 shares during the period. Tower Research Capital LLC TRC raised its holdings in OraSure Technologies by 202.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,821 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 5,234 shares during the period. Finally, Legal & General Group Plc raised its holdings in OraSure Technologies by 32.3% during the 4th quarter. Legal & General Group Plc now owns 23,626 shares of the medical instruments supplier’s stock worth $85,000 after buying an additional 5,770 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

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.