OraSure Technologies (NASDAQ:OSUR) Downgraded 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 Tuesday.

Separately, Evercore ISI cut their target price on shares of OraSure Technologies from $7.00 to $6.50 and set an in-line rating on the stock in a report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $6.38.

OraSure Technologies Stock Up 3.4 %

Shares of NASDAQ:OSUR opened at $5.53 on Tuesday. The stock has a market cap of $423.10 million, a PE ratio of 7.68 and a beta of 0.15. The company’s fifty day moving average is $6.42 and its 200 day moving average is $6.82. OraSure Technologies has a 52 week low of $4.38 and a 52 week high of $8.45.

OraSure Technologies (NASDAQ:OSUR) last released its quarterly earnings data on Tuesday, February 27th. The medical instruments supplier reported $0.22 EPS for the quarter, topping the consensus estimate of $0.13 by $0.09. The firm had revenue of $75.88 million for the quarter, compared to the consensus estimate of $74.13 million. OraSure Technologies had a return on equity of 14.50% and a net margin of 13.23%. The company’s quarterly revenue was down 38.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. Sell-side analysts anticipate that OraSure Technologies will post -0.11 EPS for the current year.

Institutional Investors Weigh In On OraSure Technologies

A number of large investors have recently made changes to their positions in OSUR. Allspring Global Investments Holdings LLC lifted its stake in OraSure Technologies by 135.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 492,477 shares of the medical instruments supplier’s stock worth $3,029,000 after acquiring an additional 283,001 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in shares of OraSure Technologies in the 1st quarter worth about $131,000. Los Angeles Capital Management LLC lifted its position in shares of OraSure Technologies by 2.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 341,125 shares of the medical instruments supplier’s stock worth $2,098,000 after purchasing an additional 8,523 shares during the period. Cannell Capital LLC increased its position in shares of OraSure Technologies by 25.8% during the fourth quarter. Cannell Capital LLC now owns 3,549,050 shares of the medical instruments supplier’s stock valued at $29,102,000 after buying an additional 728,459 shares during the period. Finally, Trexquant Investment LP increased its position in shares of OraSure Technologies by 155.6% during the fourth quarter. Trexquant Investment LP now owns 165,201 shares of the medical instruments supplier’s stock valued at $1,355,000 after buying an additional 100,557 shares during the period. 93.50% of the stock is currently owned by institutional investors.

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.