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

StockNews.com downgraded shares of OraSure Technologies (NASDAQ:OSUR) from a buy rating to a hold rating in a research note published on Thursday.

OraSure Technologies Trading Down 2.4 %

OraSure Technologies stock opened at $3.62 on Thursday. The business has a 50-day moving average of $3.86 and a 200-day moving average of $4.11. OraSure Technologies has a 1 year low of $3.52 and a 1 year high of $8.33. The firm has a market capitalization of $270.03 million, a P/E ratio of 24.13 and a beta of 0.05.

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

Institutional Trading of OraSure Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC grew its stake in OraSure Technologies by 727.5% in the 2nd quarter. Millennium Management LLC now owns 2,021,126 shares of the medical instruments supplier’s stock valued at $8,610,000 after buying an additional 1,776,867 shares in the last quarter. American Century Companies Inc. grew its position in shares of OraSure Technologies by 30.1% in the second quarter. American Century Companies Inc. now owns 1,809,897 shares of the medical instruments supplier’s stock valued at $7,710,000 after purchasing an additional 418,603 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of OraSure Technologies by 20.6% during the 2nd quarter. Renaissance Technologies LLC now owns 2,288,443 shares of the medical instruments supplier’s stock valued at $9,749,000 after purchasing an additional 391,100 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in OraSure Technologies during the 2nd quarter worth about $1,602,000. Finally, Squarepoint Ops LLC boosted its stake in OraSure Technologies by 1,348.5% in the 2nd quarter. Squarepoint Ops LLC now owns 249,641 shares of the medical instruments supplier’s stock worth $1,063,000 after purchasing an additional 232,407 shares during the period. Institutional investors own 93.50% of the company’s stock.

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.