Evercore ISI Cuts OraSure Technologies (NASDAQ:OSUR) Price Target to $4.50

OraSure Technologies (NASDAQ:OSUR) had its price objective lowered by Evercore ISI from $5.50 to $4.50 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the medical instruments supplier’s stock. Evercore ISI’s target price points to a potential upside of 7.66% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com cut shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. dropped their price objective on shares of OraSure Technologies from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, OraSure Technologies presently has a consensus rating of “Hold” and a consensus price target of $6.13.

OraSure Technologies Stock Performance

Shares of NASDAQ OSUR traded down $0.09 during mid-day trading on Tuesday, hitting $4.18. The stock had a trading volume of 68,765 shares, compared to its average volume of 1,067,770. The business has a 50 day moving average price of $4.85 and a two-hundred day moving average price of $6.30. The firm has a market cap of $309.15 million, a P/E ratio of 13.97 and a beta of 0.09. OraSure Technologies has a 1 year low of $4.11 and a 1 year high of $8.45.

OraSure Technologies (NASDAQ:OSUR) last announced its quarterly earnings data on Wednesday, May 8th. The medical instruments supplier reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $54.10 million for the quarter, compared to the consensus estimate of $52.27 million. OraSure Technologies had a net margin of 7.50% and a return on equity of 7.68%. OraSure Technologies’s revenue for the quarter was down 65.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS. Equities research analysts predict that OraSure Technologies will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On OraSure Technologies

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of OraSure Technologies by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 5,409,028 shares of the medical instruments supplier’s stock worth $33,266,000 after buying an additional 99,572 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of OraSure Technologies by 8.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,906,687 shares of the medical instruments supplier’s stock worth $32,035,000 after purchasing an additional 301,558 shares during the period. Cannell Capital LLC grew its holdings in shares of OraSure Technologies by 25.8% during the 4th quarter. Cannell Capital LLC now owns 3,549,050 shares of the medical instruments supplier’s stock worth $29,102,000 after purchasing an additional 728,459 shares during the period. Pacer Advisors Inc. boosted its holdings in OraSure Technologies by 122.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,403,333 shares of the medical instruments supplier’s stock valued at $19,707,000 after acquiring an additional 1,323,197 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in OraSure Technologies by 46.4% during the 1st quarter. Acadian Asset Management LLC now owns 1,590,258 shares of the medical instruments supplier’s stock valued at $9,776,000 after acquiring an additional 503,804 shares during the period. Hedge funds and other 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.