Cannell Capital LLC Purchases 234,826 Shares of OraSure Technologies, Inc. $OSUR

Cannell Capital LLC grew its holdings in OraSure Technologies, Inc. (NASDAQ:OSUR) by 12.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,099,815 shares of the medical instruments supplier’s stock after purchasing an additional 234,826 shares during the quarter. OraSure Technologies comprises 1.0% of Cannell Capital LLC’s portfolio, making the stock its 25th biggest holding. Cannell Capital LLC’s holdings in OraSure Technologies were worth $6,740,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Prudential Financial Inc. acquired a new position in shares of OraSure Technologies during the 2nd quarter worth about $31,000. Nierenberg Investment Management Company Inc. acquired a new stake in OraSure Technologies in the 2nd quarter valued at approximately $35,000. L2 Asset Management LLC acquired a new stake in OraSure Technologies in the 2nd quarter valued at approximately $39,000. Coldstream Capital Management Inc. increased its position in OraSure Technologies by 128.2% in the 2nd quarter. Coldstream Capital Management Inc. now owns 13,308 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 7,477 shares during the period. Finally, Amundi bought a new position in OraSure Technologies in the 1st quarter worth approximately $47,000. 93.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of OraSure Technologies in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, OraSure Technologies presently has an average rating of “Reduce” and an average price target of $3.00.

OraSure Technologies Stock Performance

NASDAQ:OSUR opened at $2.97 on Friday. The firm’s 50-day moving average is $2.81 and its 200-day moving average is $2.80. The company has a market cap of $205.30 million, a price-to-earnings ratio of -3.19 and a beta of 0.88. OraSure Technologies, Inc. has a 52-week low of $2.08 and a 52-week high of $4.22.

OraSure Technologies (NASDAQ:OSUR) last released its earnings results on Wednesday, February 25th. The medical instruments supplier reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.02). OraSure Technologies had a negative net margin of 59.76% and a negative return on equity of 16.45%. The company had revenue of $26.76 million during the quarter, compared to the consensus estimate of $26.44 million. Equities analysts predict that OraSure Technologies, Inc. will post -0.08 EPS for the current year.

OraSure Technologies Profile

OraSure Technologies, Inc is a Bethlehem, Pennsylvania–based diagnostic and medical device company specializing in the development, manufacture and commercialization of point-of-care and self-testing products. Founded in 1988, OraSure has built a portfolio of oral fluid and other non-invasive specimen collection technologies that support the detection of infectious diseases, drugs of abuse, and health and wellness biomarkers.

The company’s flagship product, the OraQuick® rapid HIV test, was the first Food and Drug Administration–approved over-the-counter oral fluid test for the detection of HIV-1/2 antibodies.