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

OraSure Technologies (NASDAQ:OSUR) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

OraSure Technologies Trading Down 5.1 %

NASDAQ:OSUR traded down $0.21 on Tuesday, hitting $3.90. The company had a trading volume of 1,390,887 shares, compared to its average volume of 829,787. The firm has a 50 day moving average of $3.80 and a two-hundred day moving average of $4.08. The stock has a market capitalization of $290.83 million, a price-to-earnings ratio of 25.99 and a beta of 0.05. OraSure Technologies has a 52 week low of $3.52 and a 52 week high of $8.04.

OraSure Technologies (NASDAQ:OSUR) last released 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 company had revenue of $39.92 million for the quarter, compared to the consensus estimate 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 for the quarter was down 55.2% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. As a group, equities analysts forecast that OraSure Technologies will post -0.08 EPS for the current year.

Institutional Investors Weigh In On OraSure Technologies

A number of institutional investors have recently modified their holdings of the company. AXA S.A. raised its position in shares of OraSure Technologies by 2.5% in the 2nd quarter. AXA S.A. now owns 161,614 shares of the medical instruments supplier’s stock worth $688,000 after acquiring an additional 3,997 shares in the last quarter. Koss Olinger Consulting LLC lifted its position in OraSure Technologies by 9.4% in the 3rd quarter. Koss Olinger Consulting LLC now owns 83,977 shares of the medical instruments supplier’s stock valued at $359,000 after acquiring an additional 7,247 shares in the last quarter. Atom Investors LP purchased a new position in OraSure Technologies during the 3rd quarter worth $49,000. Connor Clark & Lunn Investment Management Ltd. grew its position in OraSure Technologies by 78.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,731 shares of the medical instruments supplier’s stock worth $123,000 after purchasing an additional 12,604 shares in the last quarter. Finally, Creative Planning bought a new stake in shares of OraSure Technologies in the 3rd quarter worth approximately $54,000. 93.50% of the stock is 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.