OraSure Technologies Inc. (OSUR) Downgraded to Neutral at BTIG Research
BTIG Research downgraded shares of OraSure Technologies Inc. (NASDAQ:OSUR) from a buy rating to a neutral rating in a report issued on Monday. BTIG Research currently has $8.00 price objective on the stock.
“While we do not see any meaningful negatives for OSUR shares and see room for slight appreciation over time, we feel a lot of good news and higher expectations are now built into shares and would prefer a better entry point,” analyst Karen Koski wrote in a note.Related Link: How The Zika Virus Spread While Congress With Out On RecessHowever, Koski acknowledged the company’s new $18 million HCV test contract, improving operating margins, and a solid balance sheet. But, the analyst prefers to stay on sidelines due to the OraSure’s “lumpy sales.””Though OSUR has met or exceeded its sales guidance every quarter for the past several years, investors care most about HCV testing and DNAG sales, which can be lumpy,,” the firm’s analyst wrote.
Several other equities research analysts have also recently commented on OSUR. Zacks Investment Research cut OraSure Technologies from a buy rating to a hold rating in a research report on Wednesday, May 25th. Raymond James Financial Inc. cut OraSure Technologies from an outperform rating to a market perform rating and set a $8.00 price objective on the stock. in a research report on Monday, June 13th. Mizuho reaffirmed an outperform rating and set a $8.00 price objective on shares of OraSure Technologies in a research report on Tuesday, July 5th. TheStreet cut OraSure Technologies from a buy rating to a hold rating in a research report on Friday, July 1st. Finally, Jefferies Group dropped their price objective on OraSure Technologies from $8.50 to $8.00 and set a buy rating on the stock in a research report on Thursday, August 4th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. OraSure Technologies presently has a consensus rating of Buy and a consensus target price of $8.58.
Shares of OraSure Technologies (NASDAQ:OSUR) opened at 8.46 on Monday. The company has a 50-day moving average of $7.77 and a 200 day moving average of $7.16. OraSure Technologies has a 52-week low of $4.39 and a 52-week high of $9.05. The firm has a market cap of $470.38 million, a P/E ratio of 40.29 and a beta of 1.25.
OraSure Technologies (NASDAQ:OSUR) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. OraSure Technologies had a return on equity of 7.60% and a net margin of 10.08%. The company had revenue of $31.36 million for the quarter, compared to analysts’ expectations of $31.15 million. During the same period last year, the firm posted $0.03 earnings per share. OraSure Technologies’s revenue was up 3.2% compared to the same quarter last year. On average, equities analysts expect that OraSure Technologies will post $0.27 earnings per share for the current year.
In other news, Director Charles W. Patrick sold 6,575 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $7.24, for a total value of $47,603.00. Following the transaction, the director now owns 77,209 shares of the company’s stock, valued at $558,993.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jack E. Jerrett sold 68,686 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $8.52, for a total value of $585,204.72. Following the completion of the transaction, the senior vice president now directly owns 86,441 shares in the company, valued at approximately $736,477.32. The disclosure for this sale can be found here. 7.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Trading LLC increased its position in OraSure Technologies by 61.9% in the second quarter. Walleye Trading LLC now owns 18,300 shares of the company’s stock valued at $108,000 after buying an additional 7,000 shares during the period. Springbok Capital Management LLC increased its position in OraSure Technologies by 126.7% in the first quarter. Springbok Capital Management LLC now owns 16,300 shares of the company’s stock valued at $118,000 after buying an additional 9,110 shares during the period. Janney Montgomery Scott LLC increased its position in OraSure Technologies by 3.2% in the second quarter. Janney Montgomery Scott LLC now owns 18,824 shares of the company’s stock valued at $121,000 after buying an additional 579 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in OraSure Technologies during the first quarter valued at approximately $127,000. Finally, Shikiar Asset Management Inc. increased its position in OraSure Technologies by 28.6% in the second quarter. Shikiar Asset Management Inc. now owns 22,500 shares of the company’s stock valued at $133,000 after buying an additional 5,000 shares during the period. 79.79% of the stock is currently owned by hedge funds and other institutional investors.
OraSure Technologies Company Profile
OraSure Technologies, Inc (OraSure) is involved in the development, manufacture, marketing and sale of oral fluid diagnostic products and specimen collection devices using its technologies, as well as other diagnostic products, including immunoassays and other in vitro diagnostic tests that are used on other specimen types.
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