OraSure Technologies, Inc. (OSUR) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of OraSure Technologies, Inc. (NASDAQ:OSUR) from a hold rating to a buy rating in a report released on Wednesday. They currently have $25.00 price objective on the medical instruments supplier’s stock.
According to Zacks, “OraSure Technologies, Inc. is the market leader for oral fluid diagnostics. The Company develops, manufactures, and markets medical devices and diagnostic products for use by insurance companies, public health agencies, clinical laboratories, physicians’ offices, and workplace sites. “
Other equities analysts have also recently issued research reports about the company. Jefferies Group LLC lifted their price target on OraSure Technologies from $16.00 to $19.00 and gave the stock a buy rating in a report on Wednesday, June 28th. Canaccord Genuity lifted their price target on OraSure Technologies from $15.00 to $18.00 and gave the stock a buy rating in a report on Wednesday, June 28th. BidaskClub cut OraSure Technologies from a strong-buy rating to a buy rating in a report on Monday, July 24th. Finally, Stephens reiterated an overweight rating and set a $19.00 price target (up previously from $14.00) on shares of OraSure Technologies in a report on Tuesday, July 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $18.04.
OraSure Technologies (NASDAQ:OSUR) traded down 1.41% during trading on Wednesday, hitting $21.63. The company had a trading volume of 83,882 shares. The stock has a 50-day moving average of $20.72 and a 200-day moving average of $16.18. OraSure Technologies has a one year low of $7.09 and a one year high of $22.25. The stock has a market capitalization of $1.29 billion, a PE ratio of 39.98 and a beta of 1.57.
OraSure Technologies (NASDAQ:OSUR) last posted its quarterly earnings results on Wednesday, August 2nd. The medical instruments supplier reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. OraSure Technologies had a return on equity of 15.64% and a net margin of 22.29%. The business had revenue of $40.18 million during the quarter, compared to analysts’ expectations of $36.54 million. During the same quarter last year, the company posted $0.07 earnings per share. OraSure Technologies’s quarterly revenue was up 28.1% on a year-over-year basis. On average, equities analysts anticipate that OraSure Technologies will post $0.48 EPS for the current year.
In other OraSure Technologies news, insider Brian Smith sold 3,075 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $21.09, for a total transaction of $64,851.75. Following the completion of the sale, the insider now directly owns 24,540 shares in the company, valued at $517,548.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Douglas A. Michels sold 290,495 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $16.75, for a total transaction of $4,865,791.25. Following the sale, the chief executive officer now owns 894,012 shares of the company’s stock, valued at $14,974,701. The disclosure for this sale can be found here. Insiders have sold 960,173 shares of company stock valued at $18,752,210 over the last 90 days. Company insiders own 6.40% of the company’s stock.
A number of hedge funds have recently modified their holdings of OSUR. Louisiana State Employees Retirement System acquired a new stake in OraSure Technologies during the first quarter worth approximately $287,000. Nationwide Fund Advisors raised its position in shares of OraSure Technologies by 209.1% in the first quarter. Nationwide Fund Advisors now owns 144,922 shares of the medical instruments supplier’s stock valued at $1,874,000 after buying an additional 98,034 shares in the last quarter. Profund Advisors LLC acquired a new stake in shares of OraSure Technologies in the first quarter valued at approximately $137,000. Great West Life Assurance Co. Can raised its position in shares of OraSure Technologies by 2,066.8% in the first quarter. Great West Life Assurance Co. Can now owns 76,054 shares of the medical instruments supplier’s stock valued at $982,000 after buying an additional 72,544 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of OraSure Technologies by 50.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 71,830 shares of the medical instruments supplier’s stock valued at $929,000 after buying an additional 24,072 shares in the last quarter. Hedge funds and other institutional investors own 92.10% of the company’s stock.
About OraSure Technologies
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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