OraSure Technologies (NASDAQ:OSUR) Stock Rating Lowered by StockNews.com

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

Separately, Evercore ISI dropped their target price on OraSure Technologies from $7.00 to $6.50 and set an “in-line” rating on the stock in a research report on Thursday, April 4th. Three 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 target price of $6.38.

OraSure Technologies Stock Up 3.4 %

Shares of OSUR traded up $0.18 during mid-day trading on Tuesday, hitting $5.53. 712,052 shares of the company traded hands, compared to its average volume of 892,587. OraSure Technologies has a 1-year low of $4.38 and a 1-year high of $8.45. The company has a market capitalization of $423.10 million, a PE ratio of 7.68 and a beta of 0.15. The business has a 50 day moving average of $6.42 and a 200 day moving average of $6.82.

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

Institutional Investors Weigh In On OraSure Technologies

Several hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its position in OraSure Technologies by 135.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 492,477 shares of the medical instruments supplier’s stock worth $3,029,000 after purchasing an additional 283,001 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in OraSure Technologies in the 1st quarter worth approximately $131,000. Los Angeles Capital Management LLC boosted its position in 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 in the last quarter. Cannell Capital LLC boosted its position in OraSure Technologies by 25.8% in 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 in the last quarter. Finally, Trexquant Investment LP lifted its position in shares of OraSure Technologies by 155.6% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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.