OraSure Technologies (NASDAQ:OSUR) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of OraSure Technologies (NASDAQ:OSUR) from a hold rating to a buy rating in a research note released on Wednesday morning.

OraSure Technologies Stock Up 4.2 %

Shares of OSUR stock opened at $3.69 on Wednesday. The stock has a market cap of $275.25 million, a P/E ratio of 24.60 and a beta of 0.03. The company’s fifty day simple moving average is $3.91 and its two-hundred day simple moving average is $4.13. OraSure Technologies has a 52 week low of $3.52 and a 52 week high of $8.45.

OraSure Technologies (NASDAQ:OSUR) last posted its earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $39.92 million for the quarter, compared to the consensus estimate of $38.97 million. OraSure Technologies had a net margin of 5.07% and a return on equity of 3.55%. The business’s quarterly revenue was down 55.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.27 EPS. On average, analysts anticipate that OraSure Technologies will post -0.08 EPS for the current fiscal year.

Institutional Trading of OraSure Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in shares of OraSure Technologies by 5.8% during the third quarter. JPMorgan Chase & Co. now owns 847,933 shares of the medical instruments supplier’s stock valued at $3,621,000 after buying an additional 46,216 shares during the period. Principal Financial Group Inc. lifted its stake in shares of OraSure Technologies by 28.1% during the 3rd quarter. Principal Financial Group Inc. now owns 66,060 shares of the medical instruments supplier’s stock worth $282,000 after purchasing an additional 14,480 shares during the last quarter. Franklin Resources Inc. grew its stake in 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 last quarter. Barclays PLC lifted its position in shares of OraSure Technologies by 182.6% during the third quarter. Barclays PLC now owns 195,793 shares of the medical instruments supplier’s stock valued at $836,000 after buying an additional 126,503 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of OraSure Technologies by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,797,814 shares of the medical instruments supplier’s stock valued at $7,678,000 after buying an additional 32,929 shares in the last quarter. 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.