OraSure Technologies (NASDAQ:OSUR) Issues Quarterly Earnings Results

OraSure Technologies (NASDAQ:OSUR) released its earnings results on Wednesday. The medical instruments supplier reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04, Briefing.com reports. OraSure Technologies had a return on equity of 14.50% and a net margin of 13.23%. The firm had revenue of $54.10 million for the quarter, compared to analysts’ expectations of $52.27 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The company’s quarterly revenue was down 65.1% on a year-over-year basis. OraSure Technologies updated its Q2 2024 guidance to EPS.

OraSure Technologies Stock Down 4.9 %

Shares of OSUR traded down $0.26 during mid-day trading on Thursday, hitting $5.05. 1,166,001 shares of the company traded hands, compared to its average volume of 870,199. The business has a 50 day moving average of $6.07 and a 200 day moving average of $6.80. The company has a market capitalization of $386.38 million, a PE ratio of 7.07 and a beta of 0.23. OraSure Technologies has a 1-year low of $4.38 and a 1-year high of $8.45.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on OSUR shares. StockNews.com upgraded OraSure Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Evercore ISI lowered 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 research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, OraSure Technologies has an average rating of “Moderate Buy” and a consensus price target of $6.38.

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.