OraSure Technologies (NASDAQ:OSUR) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of OraSure Technologies (NASDAQ:OSUR) from a hold rating to a buy rating in a research report report published on Wednesday.

Separately, Evercore ISI reduced their target price on shares of OraSure Technologies from $7.00 to $6.50 and set an in-line rating for the company in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $6.38.

OraSure Technologies Price Performance

Shares of OraSure Technologies stock opened at $5.49 on Wednesday. OraSure Technologies has a 1-year low of $4.38 and a 1-year high of $8.45. The company’s fifty day simple moving average is $6.18 and its 200-day simple moving average is $6.80. The stock has a market capitalization of $420.04 million, a PE ratio of 7.63 and a beta of 0.23.

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

Institutional Trading of OraSure Technologies

Several institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. boosted its stake in OraSure Technologies by 122.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,403,333 shares of the medical instruments supplier’s stock worth $19,707,000 after purchasing an additional 1,323,197 shares during the period. Cannell Capital LLC boosted its position in shares of OraSure Technologies by 36.5% during the third quarter. Cannell Capital LLC now owns 2,820,591 shares of the medical instruments supplier’s stock worth $16,726,000 after acquiring an additional 753,901 shares during the last quarter. AQR Capital Management LLC grew its stake in OraSure Technologies by 118.0% during the third quarter. AQR Capital Management LLC now owns 935,510 shares of the medical instruments supplier’s stock valued at $5,548,000 after acquiring an additional 506,312 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in OraSure Technologies by 421.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 384,439 shares of the medical instruments supplier’s stock valued at $2,280,000 after acquiring an additional 310,715 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in OraSure Technologies by 8.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,906,687 shares of the medical instruments supplier’s stock valued at $32,035,000 after acquiring an additional 301,558 shares during 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.