Insider Buying: OraSure Technologies (NASDAQ:OSUR) CFO Purchases 32,300 Shares of Stock

OraSure Technologies, Inc. (NASDAQ:OSUR) CFO Kenneth Mcgrath acquired 32,300 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was bought at an average price of $2.93 per share, with a total value of $94,639.00. Following the acquisition, the chief financial officer directly owned 589,562 shares in the company, valued at $1,727,416.66. This represents a 5.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

OraSure Technologies Stock Performance

OSUR traded up $0.13 on Monday, hitting $3.08. 778,783 shares of the company were exchanged, compared to its average volume of 592,308. The stock’s fifty day moving average is $2.86 and its 200-day moving average is $2.78. OraSure Technologies, Inc. has a 12 month low of $2.08 and a 12 month high of $4.22. The company has a market cap of $212.92 million, a PE ratio of -3.31 and a beta of 0.88.

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). The firm had revenue of $26.76 million during the quarter, compared to the consensus estimate of $26.44 million. OraSure Technologies had a negative net margin of 59.76% and a negative return on equity of 16.45%. As a group, equities research analysts expect that OraSure Technologies, Inc. will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On OraSure Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in OraSure Technologies during the 4th quarter worth approximately $28,000. Prudential Financial Inc. bought a new position in OraSure Technologies during the 2nd quarter worth $31,000. L2 Asset Management LLC acquired a new stake in shares of OraSure Technologies during the second quarter worth $39,000. Coldstream Capital Management Inc. lifted its holdings in shares of OraSure Technologies by 128.2% during the second 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 in the last quarter. Finally, Amundi bought a new stake in shares of OraSure Technologies in the first quarter valued at about $47,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

About OraSure Technologies

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.