OraSure Technologies (NASDAQ:OSUR) Stock Rating Upgraded by StockNews.com

by · The Cerbat Gem

OraSure Technologies (NASDAQ:OSUR – Get Free Report) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

OraSure Technologies Stock Up 0.8 %

Shares of OSUR traded up $0.03 during mid-day trading on Wednesday, reaching $3.61. 528,071 shares of the company’s stock were exchanged, compared to its average volume of 894,514. OraSure Technologies has a 52-week low of $3.52 and a 52-week high of $8.45. The company has a market cap of $269.28 million, a price-to-earnings ratio of 24.07 and a beta of 0.03. The company has a 50-day simple moving average of $3.93 and a two-hundred day simple moving average of $4.14.

OraSure Technologies (NASDAQ:OSUR – Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. OraSure Technologies had a return on equity of 3.55% and a net margin of 5.07%. The company had revenue of $39.92 million during the quarter, compared to the consensus estimate of $38.97 million. During the same quarter last year, the business posted $0.27 earnings per share. OraSure Technologies’s revenue was down 55.2% compared to the same quarter last year. As a group, equities research analysts predict that OraSure Technologies will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On OraSure Technologies

A number of institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in OraSure Technologies by 27.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 855,951 shares of the medical instruments supplier’s stock worth $3,655,000 after acquiring an additional 183,191 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of OraSure Technologies by 38.1% during the second quarter. Acadian Asset Management LLC now owns 2,195,582 shares of the medical instruments supplier’s stock worth $9,349,000 after purchasing an additional 605,324 shares during the last quarter. Franklin Resources Inc. grew its position in shares of OraSure Technologies by 28.5% in the third quarter. Franklin Resources Inc. now owns 269,269 shares of the medical instruments supplier’s stock valued at $1,091,000 after purchasing an additional 59,723 shares during the period. Deerfield Management Company L.P. Series C increased its stake in OraSure Technologies by 428.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 152,003 shares of the medical instruments supplier’s stock valued at $648,000 after purchasing an additional 123,248 shares during the last quarter. Finally, Millennium Management LLC lifted its position in OraSure Technologies by 727.5% during the second quarter. Millennium Management LLC now owns 2,021,126 shares of the medical instruments supplier’s stock worth $8,610,000 after buying an additional 1,776,867 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.

OraSure Technologies Company Profile

(Get Free Report)

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.

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