OraSure Technologies (NASDAQ:OSUR) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

OraSure Technologies, Inc. (NASDAQ:OSUR) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.76 and traded as high as $3.06. OraSure Technologies shares last traded at $3.04, with a volume of 1,097,174 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of OraSure Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $3.00.

OraSure Technologies Stock Performance

The stock’s fifty day moving average price is $3.06 and its 200-day moving average price is $2.76. The company has a market capitalization of $206.55 million, a P/E ratio of -2.88 and a beta of 0.89.

OraSure Technologies (NASDAQ:OSUR) last issued its earnings results on Wednesday, February 25th. The medical instruments supplier reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 66.42% and a negative return on equity of 18.57%.

Insider Activity

In other news, CFO Kenneth J. Mcgrath bought 32,300 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were bought at an average cost of $2.93 per share, with a total value of $94,639.00. Following the acquisition, the chief financial officer owned 589,562 shares in the company, valued at $1,727,416.66. This trade represents a 5.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Manner Carrie Eglinton purchased 32,300 shares of the stock in a transaction on Friday, March 20th. The stock was bought at an average cost of $2.93 per share, for a total transaction of $94,639.00. Following the completion of the acquisition, the chief executive officer owned 2,190,874 shares in the company, valued at approximately $6,419,260.82. This trade represents a 1.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 158,643 shares of company stock valued at $470,657. 3.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OSUR. Amundi bought a new position in OraSure Technologies in the 1st quarter valued at about $47,000. AQR Capital Management LLC raised its holdings in OraSure Technologies by 48.3% in the 1st quarter. AQR Capital Management LLC now owns 1,041,875 shares of the medical instruments supplier’s stock valued at $3,511,000 after acquiring an additional 339,493 shares during the period. NewEdge Advisors LLC raised its holdings in OraSure Technologies by 32,595.9% in the 1st quarter. NewEdge Advisors LLC now owns 47,736 shares of the medical instruments supplier’s stock valued at $161,000 after acquiring an additional 47,590 shares during the period. Empowered Funds LLC raised its holdings in OraSure Technologies by 7.2% in the 1st quarter. Empowered Funds LLC now owns 405,216 shares of the medical instruments supplier’s stock valued at $1,366,000 after acquiring an additional 27,310 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in OraSure Technologies by 32.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 33,018 shares of the medical instruments supplier’s stock valued at $99,000 after acquiring an additional 8,133 shares during the period. 93.50% of the stock is owned by institutional investors.

OraSure Technologies Company 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.