Zacks: Brokerages Expect OraSure Technologies, Inc. (OSUR) to Announce $0.09 Earnings Per Share
Analysts forecast that OraSure Technologies, Inc. (NASDAQ:OSUR) will announce earnings per share (EPS) of $0.09 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for OraSure Technologies’ earnings. OraSure Technologies posted earnings of $0.11 per share during the same quarter last year, which suggests a negative year over year growth rate of 18.2%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that OraSure Technologies will report full year earnings of $0.42 per share for the current financial year, with EPS estimates ranging from $0.30 to $0.49. For the next financial year, analysts forecast that the firm will post earnings of $0.39 per share, with EPS estimates ranging from $0.38 to $0.40. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover OraSure Technologies.
OraSure Technologies (NASDAQ:OSUR) last released its earnings results on Wednesday, August 2nd. The medical instruments supplier reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. The company had revenue of $40.18 million during the quarter, compared to analysts’ expectations of $36.54 million. OraSure Technologies had a return on equity of 15.64% and a net margin of 22.29%. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS.
A number of analysts have weighed in on OSUR shares. Canaccord Genuity upped their target price on OraSure Technologies from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, June 28th. Jefferies Group LLC increased their price objective on OraSure Technologies from $16.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, June 28th. Stephens reiterated an “overweight” rating and set a $19.00 price objective (up previously from $14.00) on shares of OraSure Technologies in a report on Tuesday, July 11th. BidaskClub lowered OraSure Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Zacks Investment Research lowered OraSure Technologies from a “buy” rating to a “hold” rating in a report on Friday, September 8th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. OraSure Technologies currently has an average rating of “Buy” and an average price target of $18.04.
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In other OraSure Technologies news, EVP Anthony Zezzo II sold 72,916 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $21.26, for a total transaction of $1,550,194.16. Following the sale, the executive vice president now directly owns 218,326 shares of the company’s stock, valued at approximately $4,641,610.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas A. Michels sold 22,923 shares of the stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $23.00, for a total value of $527,229.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 717,601 shares of company stock worth $14,977,398. 6.40% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in OSUR. BlackRock Inc. boosted its stake in shares of OraSure Technologies by 127,593.4% during the 1st quarter. BlackRock Inc. now owns 7,743,325 shares of the medical instruments supplier’s stock worth $100,123,000 after acquiring an additional 7,737,261 shares in the last quarter. Daruma Capital Management LLC lifted its stake in OraSure Technologies by 2,761.0% in the 2nd quarter. Daruma Capital Management LLC now owns 2,821,506 shares of the medical instruments supplier’s stock valued at $48,699,000 after buying an additional 2,722,886 shares in the last quarter. Vanguard Group Inc. lifted its stake in OraSure Technologies by 30.3% in the 1st quarter. Vanguard Group Inc. now owns 4,466,499 shares of the medical instruments supplier’s stock valued at $57,752,000 after buying an additional 1,037,439 shares in the last quarter. Renaissance Technologies LLC lifted its stake in OraSure Technologies by 22.3% in the 1st quarter. Renaissance Technologies LLC now owns 5,132,003 shares of the medical instruments supplier’s stock valued at $66,357,000 after buying an additional 934,700 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in OraSure Technologies by 127.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,573,586 shares of the medical instruments supplier’s stock valued at $20,347,000 after buying an additional 881,132 shares in the last quarter. 92.07% of the stock is currently owned by institutional investors.
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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